Oracle Alteration is broken?

Oracle Elixir was removed from the game for being overpowered wasn't it? So why in the hell was an even MORE overpowered item added in to the game, and it's FREE at that. I'm fine with Pink wards. If someone feels they are desperately in need of a counter to stealth, they can buy pink wards. It takes up an inventory space so there's a tradeoff to having them, and they have to actually be placed in a single spot. But the Oracle Alteration is just broken. Not only does it completely negate stealth ability wherever a champion goes while it's active (Kha'Zix's ULTIMATE made useless by a free item), but it also negates things like Teemo's shrooms (another ULTIMATE negated by a free item). And it doesn't just grant vision of his shrooms either. It COMPLETELY negates their ability to do anything. Why is this a thing? There should not be a free item that comes with no disadvantage that completely negates champion ultimates. I feel that the Sweeping Lens should grant all of these effects, but be completely immobile, while the Oracle alteration should only disable traps and grant true sight in the initial area of use, while the champion is then granted the sort of red outline effect where it can see where invisible units are but cannot target them. That would make this item much less obnoxious and give it counterplay (the fact that a free item even needs counterplay is stupid).

Anyone else agree with me? While I understand the need for stealth to have counterplay, I feel the red outline when you see things hidden in brush is sufficient for counterplaying stealth.