We need another 100 AP item, especially if Rylai's gets changed to tankier item
So Zhonya's got it's AP reduced, so that mages would need to decide if they want damage or safety. Same thing is - likely - happen to Rylai's, and for good reason. I'm also tired AF of buying swifties every single game!
However, there is no such decision to make in current iteration of item system: completing high-damage low-defense 6-item mage build is simply impossible, because there aren't enough items. You need to get at least one defensive item.
There are 
. There is also
, but few champions can use it effectively, and even fewer make good use of it and morrello's together.
could be counted as part of high-damage build, but for a squishy mage going in aa range is a suicide. Realistically, we are left with 4 items(+boots). Marksmen have 4 zeal upgrades to choose from, to compare.
That's it. Without Rylai's or Zhonya's, most mages can't complete high-damage build. How do we expect them to buy something else when there simply isn't better item, even if we ignored the slow.
We need to add another AP item, so there is a decision to make for mages. Right now, even if we reduce AP on Rylai's to 60 or 50 in exchange for HP(or other stat), many mages will still build it - because that's either it, or 70 AP from hourglass. They will be nerfed over the board, but Rylai's meta won't end.