Razorblade "heals" enemies (it sucks)

"Razorblade" isn't a thing lol There's no item in the game with that name. Maybe you're talking about Bloodrazor or Rageblade?

I imagine it's the same reason as to why kog was horrible. small amounts of %HP damage but no base damage.

Welcome to the old Devourer, just without the insane on-hit based on stacks.

I like it.

doesn't have to do anything with devourer it does phys damage which is easy removed by armor armor is very strong while MR is much weaker therefor 3% phys damage does absolutely nothing

New? Enchantment: Bloodrazor

TOTAL COST 2625 gold

BUILD PATH Tier 2 Jungle Item + Recurve Bow + 625 gold

ATTACK SPEED 40%

UNIQUE Passive - Basic attacks deal 3% of the target’s maximum health as bonus physical damage (maximum 75 damage vs minions and monsters)

Try buying some armor pen items (things that build out of this -->, or maybe upgrades).

It far worse on melee champions but more balanced I think than devourer was. Sated devourer on a melee did 90 damage on avg per hit. That 3% you would have to be fighting somebody with around 3000 HP to do the same damage as sated devourer. Not to mention everybody by default has far more armor than MR. So overall I think its more healthy but way weaker on squishy targets that might of only bought an abyssal but have an hourglass with champions naturally having what 70 more armor at max rank without factoring in runes than MR? To do the same your forced to buy a bunch of pen which makes it so you can't just go full tank and annihilate like before.