Just got finished fighting a Darius, Garen, and Singed in Blind pick. Granted, I expected to eventually come across that team, but I did not expect to be the *least* amount of fun I have ever had in a losing game. Not because the team was retardedly strong, or that my team was Renekton (tank), Malz (AP), Ezreal (ADC), but because there is no Bloodrazor effect available for purchase. The closest thing is the Blade of the Ruined King for AD, and Blackfire Torch for ap's of course, but the Blade doesn't provide the Longbow attack speed boost and therefore falls slightly short on the immediate damage item role when faced with a team that builds damage because they are already so tanky, or in Singed's case rewarded with tank for building damage (fun and attractive mechanic, but I feel is poorly executed in general, but that's a whole other thread).
In addition, the triple bruiser team seemed almost unfair at times. The high starting damage of Garen and Darius combined with the execution style ults reached brutality beyond any metal band. To me, this signals that bruisers are too heavily rewarded for doing what they already do (which is punching people in the face at every stage of the game) and will consequently be heavily banned or quickly picked even at the expense of champions like Nid, Shaco, and Teemo who can provide map control/awareness.
Tl;Dr: Reinstate Kitae's or Madred's as a purchasable item. The Blade sacrifices too much in terms of survivability (note, not sustain) for what little immediate damage it is able to output. The Torch has an hp boost built into it which tilts the scale towards hard hitting ap's (Morde is still hella strong with just a Torch).