I'm gonna take the unpopular road and say 'no'. The problem with Tiamat from a retrospective view is that it was too efficient, to the point where many champions would build it, then build a few other items before completing Hydra. A lot of champions are balanced around their wave clear, or lack thereof. Tiamat provided a relatively cheap solution to that problem, which skewed the champion's strength. Off the top of my head, Fiora, Talon, Wukong, and Kha'zix come to mind. All have limited wave clear, or rely on heavy mana usage to do so. But with Tiamat, they got almost everything they wanted. AD, waveclear, some regeneration, and even additional burst from the active. It was too ideal for cjampions who were designed without such an item in mind.
So they could have either adjusted the item, or adjusted the champions. Given how much we all hate the latter, the former was the best solution.