Can Dead Man's plate be like Iceborn Gauntlet?

AKA having its effect HALVED if ranged, not completely ignored. I know toplaners will hate me for this, but I think ranged champs used to abuse lane and then built defensively are a great strategy. I like to build Dead Man's on them because it makes up for the lack of initiation they most often have, and well, wasting half of the passive kind of sucks.