If it’s not useful for AD carries…who is it useful for?
It’s not nearly as bad anymore, but on release, no matter how good you were with it, you were still unlikely to hit more than one or two targets at a time with it. They upped the range between targets to be greater, almost 400 now, but it’s still just 70% attack speed. The fact that you hit multiple targets just doesn’t par up to the damage you could be doing with the almost 3k gold you spent on it.
Sure, it’s great if you have, say, Teemo with it, since he does on-hit magic damage and you can get him a Bork and apply it to big clusters in teamfights, but most ranged champs are AD carries. AD carries benefit the most from crit chance to multiply their damage, and it usually comes with attack speed or the Infinity Edge. The fact that you’re hitting multiple targets – if you even are - just can’t compare to the Shiv, or Bork, or Dancers, because if someone’s jumping on top of you to kill you, you want them dead now, there’s no real threat of the guy behind them.
To Fix – Some kind of on-hit effect to compliment the passive, even if it’s just a flat damage like the Shiv has. As it is, this item is more a goofy build, it’s just not up to snuff otherwise.