Why does Rakan need to be ranged?
Rakan has 300 range, and his animation is very clearly not a projectile. Unmounted, Kled has 250. With Massacre active, Aatrox matches Rakan's 300. Rakan's is a full 100 lower than the next-lowest range ranged champion, mini Gnar.
It's kind of bogus to give him the lowest attack range in the game (for a "ranged" champion) just to lock him out of buying Relic Shield.
And being locked into Ancient Coin also means the champion is more vulnerable than he should be against mage supports.