Support itemization and balance

Has Riot completely forgotten about Spellthief's Edge? Slow but steady, the changes implemented across the season have been chipping away AP supports' strength, and made Spellthief's a lackluster on champions like Lulu and Nami. In comparison to Ancient Coin.

Why does Coin give so much gold compared to the other 2 gold items? Spellthief's is utterly garbage in a meta where early game doesn't matter nearly as much, and the early benefits you reap (nullified by the added health regen of Coin) are simply not worth losing 2-3k gold in post-game screen. You cannot run out of mana, you cannot be poked down. How is this interactive? Why do you think utility supports are massively overpowered in comparison to poke and tank supports at the moment? Coin, in its buffed state (from patches ago) nullifies nearly all of their weaknesses, grants rapid gold to rush Ardent Censer without drawbacks, and doesn't even have to be upgraded until much later on to be effective at it.

You are supposed to be rewarded for successful, controlled aggression. Spellthief's Edge is an item you COULD run on almost any support if you were up for it. It's an item created for proactive playstyle. It encourages interactivity and taking more risks. Why is that bad? The mastery changes already weakened the item indirectly, and with the newer ones coming, I don't see how Riot's making any difference to the current state.

I don't like the Ancient Coin line, never did. However, I understand its need to be there for supports who have a weaker early game and lack in direct power. It should NOT, however, be an excuse to prevent players from getting punished for their mistakes in-lane and immediately outscale their counterpart support -types. Or if it is, why does Spellthief's Edge line remain massively weaker in terms of late game gold generation?

The (realistic) support variety is effectively dead at its current state. WHY is PASSIVE gameplay being REWARDED so much MORE than proactive push for dominance? From a bot lane perspective, sincerely.

Rant over.