Black Cleaver stacking (and maybe Morellonomicon) is actually the only way this runes is mathematically any good.
With 5 Black Cleavers (because you need boots, lets be honest here) along with Transcendence's +10% you end up with +70% CDR over the cap, that gives you 84 extra AD through Transcendence.
With all 5 Black Cleavers you end up with +284 AD and +2000 HP with 40% CDR.
On paper this is very good, however you are also sacrificing armor and MR which are important stats for anyone stacking that much HP. You are also sacrificing the ability benefits from other items in order to reach this stage. While yes the stats are great from what you get, you lose far to much as a result.
In addition, you need to hit level 10 before this rune's base 10% even kicks in which means this is also the most delayed in power rune outside of Gathering Storm because it's extremely rare for anyone to hit level 10 around 10 minutes. The next step is actually getting the 15000 gold required to get all 5 cleavers, with how the game is right now chances are you will only get 4 Cleavers max before the game ends let alone max build 5.
So in summery, while in lower tiers of play this could be seen as a MAYBE viable option, higher tiers of play this interaction won't stand a chance because of how easily it's worked around with higher tier builds. Any form of % max HP damage will shred you like wet toilet paper (Ruin King, Mundo, Kog'Maw, Fiora, Vayne, etc etc).