This tweet basically sums it up perfectly, this item is just hugely underrated considering it costs 250 gold and sells for 125.
Its useful early game and useless to mid-late game.
I always build it on Lyra and Flicker as a first item.
I once built it when 5v5 just released
When i used it , i felt nothing happened , and iam talking here just about 5v5
But in 3v3 its still good.