Why Locket and Redemption are broken at a core design level
I already did this type of thing once where I thoroughly explained just how much team-wide sustain one can get from these items using different variables. In this instance, however, I'm going to be addressing a slightly different topic. Mainly, it's why aoe sustain items like these will always be better than any other support item in this game in almost all instances. If it's too long, just fast forward to the last paragraph.
: The item is used to reduce incoming damage to your allies right? 12% damage transfer to you while they give you 12% life steal based on their damage dealing. Fine and dandy, but let's put the numbers into play before people stop paying attention.
Suppose we're level 11, right? You decided to build Knight's Vow and I went for the Locket. Suppose someone sent a 200 damage projectile to your 100 hp adc. Congratz, he's dead. Meanwhile, my adc gets a 420 hp shield and lives without taking a scratch. 150 hp adc against a 200 damage projectile? Still dead. Mine? Still alive. How about your adc has 500 hp, but your tank has been getting tossed in the mosh pit for a minute and has like 200 hp left? Congratz, he's dead because you're still linked to your adc. Meanwhile Locket's an aoe so I can protect literally everyone with a push of a button. See, for every 100 hp someone takes, you only absorb 12 damage. This is like spending 2k gold on a slightly better Bond of Stone. In 2k damage taken, you only absorb 240 of it. No marksman even has 2k health to lose by level 18 in the first place, and it's still under the level 11 value of Locket's shield ON ONE SINGLE PERSON, LET ALONE FIVE. Knight's Vow is a pretty well designed item in the sense that it highlights what a tank does and emphasizes that tanks take this item. Locket's just fucking broken and steals the limelight. No amount of readjusting Locket is going to fix this. Same thing with Redemption, although it's not as potent as it was early so it'd be smarter to build Locket first now.
: The item is used to pump out damage, then heal someone. Simple enough.
Problem here: There's hardly any emphasis in damage dealing in support itemization. The role is almost devoid of ap options at all. One item's a gold gen item. One is Zeke's, and we all know how that goes. One is Ardent, which is a fine item. One is this shitty item. THAT'S IT. How does one expect to actually fill this item well before tossing out your sustain move, thus using the heal? Remember that it takes 20% of your unmitigated damage to fill the cup with, so if you don't build enough ap, you can't quickly get a good amount of healing into the item before you need to shield someone again. It'd be smarter to build Redemption, which gives 300 hp rather than a measly 30 mr, almost double the mana regen, hp regen, and more potent healing in its active than this thing can give in its passive. I mean, unless you think you're actually helping giving people 60 hp heals for 2.1k gold rather than buying an aoe healing bomb for the same price. This item's already outdone by Ardent Censor anyway.
: We all know that adcs pretty much manage their crit on their own these days or just ignore it outright with lethality. This item is garbage.
: This item is garbage.
: Another good item that gets overshadowed by Locket/Redemption. Sure, people you shield or heal get this item's effect, and if you do that in aoes, you get a lot of gold value from it. The issue stems from the fact that the gold value is situationally useful. LB with 20% bonus attack speed is pointless, but Jinx with it is great. Meanwhile, Locket and Redemption are just generally viable in any fighting scenario. Ardent is a well designed item, but it just loses out to those that aren't.
You can basically do this for the entire roster of support items, and unlike them, you can't make a strong case for why you'd pick any of them over a strong heal/shield for up to an entire team. This is why I don't like Locket/Redemption. At the core of their foundation, they're broken items. Either other items need to become very potent to compare or these items need reworked actives.