This item can potentially heal 2450 health, without factoring in runic armor + windspeakers blessing + healing/shielding power passives. The true damage and usability while dead are nothing compared to the crazy amount of healing this thing can put out. The true damage isn't an issue because it has a delay.
Redemption makes Knight's vow look like total shit, and Knight's Vow is a pretty damn good item. If redemption remains the same I predict (and I am not the first person to predict this by any means) that we will see junglers purchasing it in competitive. Who in the world designed this item and what in the world went through their head when doing so?
Giving supports busted items like redemption because its the least popular role is not the way to address that, and lack of ability to make an impact is absolutely not the reason most people who don't play support don't want to do so anyway. It's because playing support inherently involves setting up others to carry, and most people would rather be in a position where they have the resources to enable themselves to carry. Quite honestly the support role is in a great spot, and it will be in an even better spot when they add another mechanic to prevent them from being underleveled for warding.
And why the hell did they make it useable while dead anyway? Pretty much says screw you to the concept of positioning.