User blog comment:CasperNox/Changes for LoL: payment, items, gameplay./@comment-4636093-20120331082441/@comment-4742270-20120331140516

Well, Bloodthirster fills the same role in the AD section, so I don't see any reason why the AP section shouldn't get the same. Essentially, an AD carry would do nearly the same damage in late game (crits and enough armor penetration provided) as a AoE caster with the slight difference that a silence wouldn't break its damage at all.

The item itself however, like an other commenter said, is just a more powerful version of WotA which was already nerfed a lot, thus leaving rather small chances for this item to ever see the light of day.