Fountain has always been a must-buy first item for captains. However, due to the addition of new items, maybe Fountain may not be a 100% must have for some heroes. Because Fountain is getting a defense nerf, maybe healers can get away with just building these high health items like Plate, which increases healing by 20% while also granting good defenses, and NOT build Fountain. This can give more room for other items whether is be SG for Grace Since her ult will have virtually no cooldown, though I think Fountain may still be a core item for Cap Grace, or literally anything for Lyra and Adagio. Of course, other caps without healing will NEED Fountain since otherwise there is not much healing to go around. But what do you think of healers like Lyra, Adagio, and Grace not building Fountain? I think Adagio and Lyra can be 100% plausible. Ig Echo does also grant more space for Grace kek that rhymes, so Plate coult definitely go there. However, she also may need to use Weave, which requires her to give up another item. Maybe Grace could take advantage of her extremely powerful early game to not have to build Fountain immediately, allowing her to get Plate when she reaches level 8?
EDIT: AHA! I think Grace can build according to how the game is going. If she is snowballing early on I think she can get away with getting SG instead of Fountain due to Plate and decent CDR especially with the buff. However, if the game is kinda even or if she is losing, then Fountain is definitely the way to go! Testing would be required