There is no doubt the item needs a rework, I still don't understand why they nerfed it in the first place. I don't think the need to control a creep is worth paying 1400 gold more than a Wand. The item no longer crafts into anything and the creep will give the enemy 125 gold when it is killed. After all you can pay 400 more gold to go into a Veil of Discord and get far better stats including 6.8 Armor and 25% Magic Amp for the whole team.
I would probably reduce the price of the item to 1400 gold since controlling an extra unit takes skill and should be rewarded not punished. It would be different if the item did form into a better item but that's a different story.
I wonder what good it does however by posting here in the forums, for example even if we all agreed, how will the developers listen and update the game?