Static Shiv seems to be a niche item best suited on champions who can free roam and gank.
Notably this brings to mind Shaco and some other junglers.
What we know of the roaming meta is that once mid game starts, roaming alone starts to disapear.
Now the item itself, why yes it can give 100 extra damage for crits, Sheen, at a fraction of the cost. (Less then half) Can do the same. And consider it builds from averice blade, the entire point of having a GP5 item is lost on so soon building it into another item.
Now i'm focused mostly on the cost of the item, if most junglers have 4000 income around the 20 minute mark where early game ends, they will have just enough to finish static shiv by the time the items core use in ganking will be in-effective.
1. Buff the item, make the passive on it more viable to proc since it has so few uses when auto attacking.
2. Change the recipe, possibly exchange the Zeal for Sheen.
3. Simply lower the goldcost. In terms of item efficiency, others do it better, and since the item seems to be early game focused, its hard to justify.