Seriously. That item is broken. No one ever complained about 
.. before the item was buffed. I'd suggest nerfing the AD and damage reduction. Halving the damage reduction for ranged is a good start but it is not enough.
TL;DR: Nerf 
I feel like it'll go down to 25/20% delayed damage or make is scale with champion level.
Nah they'll keep it the same cuz its funny
This item definitely shook the meta quite a bit. I'm glad they changed it from near useless to being used a lot. Maybe a slight tuning down would be appropriate, but I don't see a massive issue here. People forget that Executioner's Calling exists too. It's like playing against a good Soraka that just makes it impossible to kill anybody and complaining about it, but nobody having a Morello nor Executioner's to counter it.
Draven is just very problematic because he gets his first spike so much earlier thanks to his passive. Riven is more of the same as always.
