I'm still seeing a lot of Warmogs users in Classic mode, and the price increase didn't really have a major effect on them. Really it just inconvenienced them slightly, and didn't make them question the purchase.

Last game I saw at least 5 Warmogs users (I was not one of them; it's a poor item on Pantheon compared to a GA). 3 were on the enemy team: Garen, Thresh, and Miss Fortune (yeah, she got it). Ended up getting Blade of the Ruined King to counter it; worked like a charm.

However, I doubt Riot will want to nerf the item again, so might I suggest that instead you decrease the cost of its AD counter? Reducing the combine cost of Blade of the Ruined King would be a good place to start, IMO. I don't see that item often enough, probably because people think it's too cost-inefficient. Reducing its combine cost to, say, 800 from 1000, would definitely see an increase in its use. (Liandry's is fine ATM.)

My 2 cents.

I think they should increase the amount of damage that it deals with its passive.

Make it 3% of current health + 1% of max health.

I think its mostly just way to strong early in the game. The way to counter high health is alot of constant damage. That early in the game tho adc usualy have around 40-50 more ad. so 130-150 warmogs early gives you around 2200-2600 health which with NO ARMOR it would take 15 attacks minimum and possibly 40 if you have alot of armor/are garren.

No, the passive is fine for its cost, but the rest of the item (cutlass) is counterproductive. Maybe put it on a stinger or something useful.

All it needs to be buffed is that it's current HP damage should change into max HP damage. With the item stacking with penetration right now, it's actually more worth it than Bloodrazor, which doesn't work with MagPen, I think.

currently the only thing BOTRK is good for is that activate and with certain champions to solo baron. the activate is actually incredibly good due to it acting as a heal and massive slow/speed up but for most champions that's not worth the 60 ad and extra gold u lost from not getting BT