On Lucian it is as strong as Stormrazor if not slightly stronger.
On Jhin it is 1.5% above Stormrazor in the 1st slot and 1.5% above IE in the 2nd slot. So BiS.
Ashe BiS.
Aphelios, Kindred, Jinx and Cait as good as Stormrazor.
Yasuo/Yone, Nilah and Trynda already BiS.
So it is AT LEAST as good as Stormrazor actually if not better on live. You have it BiS on 4 melees and 2 ADCs and it will be BiS after Stormrazor is nerfed for at least 5 more.
And that is in gold+ and plat+. The item is an active item and actives tend to become better in higher elos and pro play. In Dia+ the item is BiS already for Aphelios and a few others.
With this nerf I am sure every crit ADC who doesn't want Navori will take Gale instead. Navori takes a totally different niche than IE and Gale, so it isn't battling these 2, which is why Xayah, Sivir and maybe 1-2 others still go Navori. But for everyone who might want to go IE, Gale alr...