Should it be removed though? I don't know if that would really improve the game. I suppose they could make Vampirism work on all damage dealt instead of separating it by LS and SV but it wouldn't make much of a difference and it's already a good mastery for ADCs and junglers. They could do the same for SV runes and remove LS runes too. It would probably have to be something smaller like 1.25% healing on all damage dealt (reduced for AoE) though.
I've actually been worried about the future of SV runes myself since Riot seems to change this game on a whim in drastic ways for both items and champions. I don't want to invest time in new strategies with SV runes only to find them
removed in another few patches. It feels like every time I'm comfortable with a champion/strategy, it gets turned on its head screwing over all my hard work and theorycrafting. RIP AP Kog (my favorite champion was turned into a W bot and deleted with the rework).