Niche as a hybrid AP/MR item. Grants CDR.
Armor/AP hybrid item that also grants CDR.
This little weirdo is giving AD, MR, lifesteal, and CDR.
My question is, why? It feels like CDR is being used as a filler stat on items like these that should be providing more of the stats you buy it for.
48983507DEL17 votesI'm guessing they provide CDR instead of more defense because more defense would equal an absolute shut-down of the champion you're looking to protect yourself from.
Riot has always adopted the philosophy of "No one thing should 100% hard-counter another one thing." This is why 'counterpicked' matchups can still go in the favor of the champion who's unlikely to win, or why QSS no longer removes things like Death Mark.
Because of this, items that seem to solve all problems, such as providing damage and defense, cannot provide high or even mediocre numbers for those stat increases, or else they'd provide a giant advantage over their opponent. However, the items still need to meet their gold value, and the value needs to be enough to hold an inventory slot. To accomplish this, they tack a perk onto the item which can provide an increase to both offense and defense without simply being a stat-check.
To summarize, adding raw magic resist to Maw or flat armor to Zhonya's would make the item too powerful, but the numbers as they are now are too weak. That's why they add CDR, an incomparable stat, to theses item, in order to make them a valuable purchase if the situation demands for a pseudo defensive item on a damage character.
Muzét4 votesThis little weirdo is giving AD, MR, lifesteal, and CDR.
AD + MR + CDR + More AD + Life Steal + Spellvamp *
They provide cdr to still be "impactful" and you won't get as much behind by building defensively.
It's like Black Cleaver where they change the 
for 
so the one who build it don't have issues doing it when behind.
Sun Wu Ryuumoku8 votes
buid path wasn't changed for this. It was changed to be less appealing for marksmen & assassin.
Muzét5 votesThis change therefore makes the item a bit more narrow, forces champions to care more about the defensive properties of the item, makes the build path easier for juggernauts who are highly reliant on it (Caulfield's is fine for a Garen or Darius who starts to get fed; not so much for one going even or falling behind) and harder for light fighters/assassins/marksmen.
Source: RiotAxes https://www.reddit.com/r/leagueoflegends/comments/5svmjz/28_pbe_update/ddi7u78/ But you're right it was also changed because marksmen/assassin was often using it.
SzGamer2271 votesI see where you're coming from, but lifesteal isn't a great stat to build when you're falling behind. People usually settle for Hexdrinker.
Muzét1 votesYup ikr - but you know I'm a mage player so I'm hating the whole malmortius path specially when compared to Zhonya path.
TyroneWatermelon2 votesbecause they are balancing new champion abilities entirely around CDR and shove it down your throat. its literally impossible to not bypass 45% cdr with a support build, and now tanks, adc's and assassins have easier than ever access
RavenMagus1 votesI remember when it was difficult to build CDR and you had to build for it if you wanted it.
I played a few games as Wukong recently and I discovered that literally every item I wanted to build had CDR on it. I'd wind up with 60% or so just because it was absolutely everywhere.
I really don't think CDR should be so easy that you just accidentally get 40%.
GorillaBearz1 votesDon't forget Deaths Dance, I would consider that a mostly offensive but also somewhat defensive item that gives 10% cdr