So Pyke's bonus HP gets converted into 1 AD for every 14 bonus health.

So Warmog's (the highest health item in the game also noting that Pyke at level 18 has about 2500 health and can't ever proc it's healing passive) gives Pyke a total of 57 ad. So it does seem the passive is just there to counteract him needing to get support items (specifically the Relic Shield line) and will probably look to going for normal assassin items after.
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