...DO NOT dumpster the item.
Make it so its balanced on the people who USE the item 
(and a few others)
and synergizes well on them, but PLEASE don't let the item drift back to what it was before. It's a good stacking AA item and has its niche, and while it MIGHT be too strong atm, please DONT dumpster it.
nR1DLrSfi82 votesThat's the problem with item balance. No matter what they do, it will dumpster for certain champs. For example, if they nerf the AP ratio, Kayle is dumsterd. Nerf the AD ratio, Jax/Yi is dumpstered
Riot can't win no matter what they do. They should lower the ratios for both, but if they do that, then it will be dumpstered and everyone will bitch. Leave it and everyone bitches. It's lose lose for Rito.
Miku Lv991 votesIt could just give like half as much AS, AD, and AP per stack. Then it wouldn't be dumpstered, and just those champs would need buffs.
Blitzidious1 votesOr just make it NOT gold efficient instead of removing the primary chunk of the item. :p They could just increase the price to a drastic amount to where players will either get it late game, or make a very dangerous decision and rock the components until they can get it as second, first, or third item.
WookieJesuz1 votesI think it should be a late game item, not a rushed one. Increase the cost to 3000 and im happy.
Erockandroll1 votesI think it should be a late game item, not a rushed one. Increase the cost to 3000 and im happy.
I'm not sure if Riot want's that, I think Riot wanted Rage Blade to be an alternative to either of the Hydra items. For that to work, it has to a reasonable early purchase. Then again, Ravenous hydra costs 3100 gp and is still built on champs who use it. So even your proposed Nerf, wouldn't even deter it as an early game pickup.