We should replace frozen mallet with a melee only item that allows you to auto attack while moving.
Stats it provides would be the same but the cost would be different.
Effectively the only difference between this and a miniature speed boost like furor is that a speed boost can allow you to scamper to another target or move away more quickly than you otherwise could without the bonus, while this suggested idea does not.
That means it is worth strictly less than a repeatable speed boost that can provide the same level of stickiness (admittedly a tall order, but it can be done against most targets with furor + phage unless you have more than 1.5 attacks per second or the target is very fast) The speed boost you would require in order to match the level of stickiness provided by this suggested item would have to be larger the greater the number of auto attacks per second you make, because each auto attack causes your champion to have to stop moving to make an auto attack animation.
Basically the item would synergize well with attack speed and anything else that scales with attack speed, and would be lackluster until then if purchased early.
The stickiness it provides versus a single target would be atleast as good as mallet if not better, but it would not be possible to slow down someone for your team or to prevent the enemy from running quickly to their own team, so basically the total power hasn't changed it has just been shifted from one aspect to another.