GA once was meant as the standalone def-item for priority targets, giving good def vs tanks(most tanks have no %pen, but %health damage, so def stats help well vs them), and the revive if they should get bursted down.
Ideally, you'd get it vs talon and lough as his combo just pops the GA and he when dies to your team and you revive, cleaning up the fight.
The problem is that it snowballs really hard. If you are ahead(as a team), it makes it really hard to shut one down, as it works as intendet: opponents throw nearly all they have on the priority target, it 'dies', the team push the opponents away and punish them for their commitment, and then you revive and clean up.
If you(as a team) are behind, you die, the oppsing team will force your team away, and then you revive and instantly die again.
In S1/2, it was the go to item for adc, but after that people slowly started to notice that not getting bursted down in the first place is actually better than the snowbally revive...and currently the best option to not get bursted is steraks, hence they take it.
It also is usefull as a endgame winning option. If it's 6items each, get GA on every single member for the final fight, your opponents will have trouble keeping you dead, though only the fewest games last that long.