Eye of the Watcher needs 10% Cdr, perhaps in exchange for less mana regen and or AP.
Most champions who buy this, used to buy Frost Queens Claim which has 10% Cdr, while purchasing Sightstone separately.
Now that there is an item that fuses parts of those together, I think it still really needs some Cdr that supports used to get from Frost Queens.
I believe that most players would care more about it having Cdr than Ap or excessive mana gen, and think this is where the power should be traded.
If it's enough to lower the Base mana regen to 100% down from 150% in exchange for adding 10% Cdr then that would be great but if necessary the Ap could also be lowered to 20, down from 25.
Either way I feel this would be a much better distribution of stats on this item
Thanks for noticing