Funny how most people's perception valued a complete
before
existed compared to now.
Before
existed, Wriggles did 100 bonus magic damage to monsters. Not 75. It also gave 40% increased gold from monsters, not 30% (which is a 25% increase - which in a 40+ minute game, can equate to 250-500+ extra gold). Old Wriggles still had 25% attack speed, too (feral-era wriggles gives 30%), and while lacking AD, it gave 20 armor, which helped you survive camps, tower shots, and ganks, on characters that would likely be otherwise building glass cannon. Oh, and it costed 1650, not 1800.
I would actually PREFER old Wriggles to new Wriggles, if new Wriggles didn't transform into Feral Flare. On their own, without bringing Feral Flare into the picture... Old preseason Wriggles was actually more useful than new Wriggles. It was cheaper (allowing you to buy it sooner). It gave you more bonus gold (which, combined with being cheaper, and being able to grab it earlier, was huge). And its stats would actually help you farm faster than new Wriggles (100 magic damage, armor for survivability, and the ability to pick it up sooner and kill dragon/other camps with it sooner).
All that being said, I can pick up stronger items with stronger combat stats with that gold, instead of Wriggles. The ward is not going to help me as much as you say it will. It's actually a gamble, and I'm not willing to take it. If my teammate decides NOT to help me, then I'm way behind. Climbing ranked is about consistency. Your strategies have to work every time. If they are a gamble, and rely on your teammates... It won't be worth it every time your teammate fails you. It's high risk, low reward. I'd rather build a sheen and win a duel, or chase the enemy away myself.
It's the same reason I don't solo dragon at level 5 anymore unless support wards the bottom river bush (and I ward the mid river bush). Could I get an early dragon and get my team ahead? Yup. If its warded by the enemy, am I screwed because I can't see? Yup. Will I consistently climb ranked if I take the stupid risk that is high risk and doesn't always work? Nope. (and if you say "buy Wriggles and ward both bushes!" - no, I won't have enough gold at that point in the game... And Wriggles isn't enough to solo at that point even if I DO get a lucky kill and have the gold. I need the 700g spirit stone for the sustain. Level 5 dragon requires madreds and spirit stone.)