Righteous what? Iv never seen this item used, is it new, is it old, who builds it... is it AP, AD, HP? Sorry, most of my builds have about 8 items to choose from (not counting boots) and 3-4 of those are the same every game with the rest being a choice between: Extra damage, extra HP, extra armor, extra MR, armor pen, magic pen, extra sustain (life steal, spell vamp, regen), or a combination of two or more of those stats.
What ever this Righteous thing is, it must not meet the power curve of the others, cause I dont see anyone else building it either.
I make jokes and all, but it is a decent "tanky support" item. Its not too expensive, it has a nice active, gives some nice stats... but I agree, losing Valor passive makes me not want to build it EVER in a lane as a support. The catalyst component is too expensive for a support to build and lose the passive it provides. I feel that in this META it also doesnt provide any resistance stats that the average tank will have a hard time finding space in their itemization for this over Iceborn or Frozen Heart as a way to get more mana. The active is very strong, but teamwork in this game outside of pre-mades is pretty low, so an active that creates teamwork is of lower value on average as well.
Its not a bad item, but I feel tanks have better options, supports who I feel it would be great for (I think Taric, Leona, Thresh and even some APs: Sona, Karma, Lulu) would rather keep the Valor passive for the HP/mana sustain the Catalyst provides, so they dont bother with it since the finished item loses it.
Part of the problem is also the active, its only for initiations, you cant escape with it, so its very limmited also. In the META now just plain moving fast is better so you can get away is important, and its move speed is only good for moving toward enemies/enemy turrets.
My thoughts, I had to pick Teemo's stinky balls cause that was funny, but the other options seem really arbitrary. I give the item a 3 out of 5.