It's been with us for several seasons and has yet to be of any use. The only time I've ever seen it used is when someone is trolling, making a funny league video showcasing the item to troll, or when someone buys the trap item for the first time and realizing it's bad.
The active is so situational that you barely have the right time to make use of it. By the time you buy it, you're already naturally tanky to tower dive and take so many hits. If not, you can buy other tank items that do better and serve more uses later. The stats may look good, but all of that can be bought from other items at higher coverage. The active becomes more useless late game as turrets go down.
Suggested options are rework the active, add another active that can be used at all phases of the game, give another passive, rework the build paths so that you can rework the passive if needed, or... Just delete it like other items have been.