This is their biggest mistake then. 50% reduction might be too much, but keeping the damage even is keeping the item awfully balanced in favour of AoE. 33% reduction, maybe?
Yes, yes it is. If they don't reinstate the damage reduction, maybe at least slow/stop charges regenerating during combat?
The item will likely be unbalanced a bit. We'll use it as a springboard to make further changes. I generally prescribe to the theory of erring on the side of OP to increase adoption and play rates. This generates much more balance information. inb4 riot champion balance conspiracy... I don't work on champs!