The overlooked option
So, this item is obviously deemed to be a "support item" because it requires a partner in order to utilize it's active.
However, for everyone who complains about Zhonia's Hourglass being your ONLY armor/AP item, ..
Consider picking up Zeke's Harbinger
+250 Mana
+30 Armor
+50 Ability Power
+10% Cooldown Reduction.
Total cost: 2250 gold.
It offers 15 less armor, 20 less AP, and of course the Stasis Active is one of the more important reasons for picking up Zhonia's Hourglass.
However, +250 Mana is good for most mages, being as mages commonly have a mana resource. The Conduit passive can actually result in 60 AP without any other AP items, and with 50 more AP the item will match the AP from Zhonia's. You can link to another mage to boost their AP by 20% or an auto attacking champion (such as your ADC) to grant them a bonus 50% critical strike chance. And it is 650 gold cheaper than Zhonia's
So is it ideal? No, certainly not.
Is it better? Not necessarily.
Is it an option that I think should be considered? I think so.
Would I like to see more options? Absolutely!