you mean no armor

Its also one of the only way to deal with the bruiser meta, Not super effectively of course, but it helps

^also no he meant MR.

The healing can be nice on it, but it is not broken rly :/ good for ranged AS to have stacking power. Though for melee with AS this can be really good, but no better than pillager on some bruisers with spammable abilities (hecarim)

Match this with a couple of other on-hit items and you're in for some broken kit. I had 3k hp - 150mr/armor and was getting killed in less than 2 sec by a teemo with less money.

Xyph said it used to deal physical damage. Why was it nerfed to magic damage? Isn't that the same problem as bloodrazor?

Rather than just ranting why don't you give some examples of when you feel it is overpowered or how it outshines equivalent items? My experience with it is that it is...ok - pretty powerful on an AS/on-hit build (Teemo, Kog'maw) but the active is pretty mediocre (for damage) on those builds. Otherwise I feel like I'm almost always better off building items that multiplicatively scale (if I'm a AD) or offer me some ability scaling (if I'm a bruiser).

It seems like a slightly less noob-trap MBR but still fairly deceptively weak.

Honestly, I think that it would be a fairly mediocre item with physical given the current stats. The real appeal to it as it stands is that it offers a significant amount of lifesteal that isn't dependent on physical damage for on-hit builds which is something they are extremely lacking.

Any Bruiser with lifesteal should be able to solo Vilemaw early in the game as long as they have lifesteal and some armor

Are you sure? The only times I've tried I died rather horribly to stacking debuff which ranged champions avoid.