400ish gold cheaper yes, but 50AP weaker base. More AP per charge, but added risk of losing charges. "Meh" bonus if fully charged; comapred to 15% MS or 15% damage soak, come on.
I just dont think SS is worth it anymore for two reasons, 1 of them more of a personal reason. The first, most people can expect to die in a game. Unless you are far and above better than every single person on the other team and they cant play together at all, youre likely not going to end up death-proof. So basically, you just paid 1000 extra gold to have on average 20-40 AP--865 gold gets you a constant 40AP. This also means you are likely to not even get the full bonus boost, which isnt even that strong (20 charges gives you a 1/4 max -CD).
Second, is more of my playstyle, so not too community impacting perhaps. When I play casters, most of them, I play carry killers. My goal is to shut down their squishies so they cant shut my team down later. This often means playing more risky than most. I always felt that its more important to take a death as a caster if it means you give a death to a carry (especially if they dont get the kill shot in return). My time wasted dead is almost insignificant compared to the time they waste not gaining exp or gold for needed items.
This change basically means that SS is now pretty useless. I average 3-6 deaths a game depending on how defensive they play and therefore how aggressive I play. I used to get Mejai's on some heroes just because 70AP base isnt bad at all. And gaining another 70 while killing was always nice. But now that this item's base is 50AP less, and I can almost never assume Ill get the max +160AP it seems worthless. It even feels more risky dropping the 1000g here instead of somewhere else that is a surefire benefit. At most Id pay an extra 500 combine cost; it'll become something I can port back for at 5 mins in, and build up.
Also, on a side note, why is Mejai's the most expensive of the 3 versions?