Isn't Liandry's Torment in the same spot as old Black Cleaver?

Before its rework, The Black Cleaver had the issue of being good for any target. The flat armor penetration was good for squishies, and the stacking percent armor reduction was good against tanks. The Black Cleaver was just a good buy regardless of the situation. When The Black Cleaver was reworked, it became refined as a fighter/juggernaut item for stripping armor off of tanks over long fights.

Currently, Liandry's Torment has the same issue as The Black Cleaver used to, it's good against anything. Liandry's Torment has flat magic penetration which is good against squishies, and percent health shred which is good against tanks. Theoretically, this works especially well against tanks that stack armor and health, but outside of the Cinderhulk meta it's been rare to see tanks without at least one MR item, negating the flat magic penetration from Liandry's Torment. Liandry's Torment is good against any target and lacks a clear identity outside of working with immobile mages' damage over time, Rylai's, or magic damage abilities with CC.

Liandry's Torment could use a rework to give it an identity as an item and reasons to pick the item outside of its synergy with a champion's kit as a core item.