I think we're underestimating the power of haunting guise in the early game.

You can buy it for 1500 gold which takes maybe 6-8 minutes to acumulate. 6-8 mins in is very early.

It gives you 25 ability power and 200 health. That's pretty good and fine by itself.

But then you add 15 magic pen which is more than half of most people's MR 6-8 minutes in.

-25 AP -200 health -let's rephrase it as 50-60% BASE magic pen (in the early game)

And for only 1500 gold.

Here's how that could be balanced:

-25 ap is fine -200 health is perfectly fine -10 MP. Then, when you buy , the passive is buffed to 15.

I'm just saying that 15 magic pen is incredibly strong in the early game for only 1500 gold especially when there's even more stats along with the item.