While we wanted to try something a bit more nuanced to make this Item less of an obvious purchase, this idea wasn't the right one. We both heard the concerns and saw a few issues emerge that made us feel a further nerf of its strength is better for the game in the short term.
This Item was performing very well on PTS with a return to True Healing and a significant scaling increase, so we want to be a bit more cautious and bring a bit down while preserving the True Healing. We're watching the strength of this item in conjunction with Rejuvenate but want to allow players to experiment more before we act.
While this was originally a bug, after watching Rejuvenate's performance on PTS we feel leaving this in place for now is the best call. We saw a lot of polarized thoughts on this version of Rejuvenate and its impacts on Support Itemization and early vs late game, however there was enough conversation from both directions that we want to let the wider player base experience it and give feedback. We plan to watch & act quickly to bring back the previous version if too many painpoints arise over the next few weeks.