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I'm going to try to make this easy to point out, yet in depth enough so that everyone knows what I'm talking about. Also, I will be posting this on the General Discussion Forums, because things get around quicker there most of the time.
Oracle's Elixir. 400g. Gives you true vision for 5 minutes, or until your champion dies.
Why did this change happen? Ward clearing/Teemo Mushroom hunting/Invisible anything hunting has become a huge pain in the ass this season. New items have brought out many new choices in build paths, which I for one am happy for, let's get that straight.
However, due to lack of insight or maybe just an oversight, wards are extremely overpowered as of now. I never thought I'd say that.
The Sightstone/Ruby Sightstone. We have all ran across this item once or twice in games. It's free wards that are refreshable and interchangeable. As a bot lane support, the faster you get this item, the "normal wards" you need to buy. Which is good, it opens up gold for supports. What's bad about this is what these wards do when they are hunted/killed. They only give a measly 10 gold. With junglers looking to gank more than farm their jungle, these easy and cheap wards force the enemy team to spend extra money on pink wards that'll just be rendered useless due to the Sightstone holder being able to just push wards around it, yet still gain a vision advantage. Or worse, they'll have to spend 400 gold to kill a 10 gold ward that'll never really leave. It'll just get replaced in seconds after the jungler leaves. And if the jungler keeps coming back for that same useless ward, the other team knows he/she is camping one lane, and can gain an advantage of always knowing the enemy roamer is in one spot trying to help one lane. This leads to easy counterjungling, lanes not having help in clutch moments, and eventually loss of game.
And to every1 who is a massively against S2 oracles here is my arguement.
Oracle used to be permanent and taking it was a gamble. Now it's almost useless - even if you don't die with it, the odds of finding enough wards to make it pay off are minimal. Your 75gp denied argument is bull****. That would be the case if you could clear the ward before they ever got any use out of it. However, the act of clearing it guarantees that all but the least map aware team to ever play the game will notice you in it, which means the ward has served its purpose.
So, let's look at it this way - your most heavily warded target lane, instead of returning 25 gold per ward kill, now returns only 10. You deny nothing in gold cost, since the wards are free from a core support item. You occasionally get a return when you find a non-sightstone ward placed by jungle, mid, or top(unless they've also purchased a sightstone, which I have seen), but you still deny only a fraction of the 75g cost, since the ward will have been up for sometime before you find it, and may have already spotted something of importance, and now also spots you. When this happens, you return 1/16th of the cost of the elixir, which is a whole lot more expensive now that you need to re-buy it ever 5 minutes.
There's also the problem of teemo(which is what happened in the game that prompted this post, wherein I discovered that oracle only lasted 5 minutes). His mushrooms return 0 gold when you kill them. However, he can continue to place them forever. To deal with him, you need to constantly expend 400g every 5 minutes, and get nothing for it(save whatever incidental wards you clear beyond the mushrooms), which basically makes the oracle a bigger drain then it's worth, which means the teemo wins whether you continue to buy oracles or not.
Yes, you can still rotate the burden of the oracle cost, but now, instead of whenever you die, it's whenever you die or every five minutes, whichever happens first.
Ultimately, this makes it a much larger financial burden on the team, with a much smaller return.
Sure, it's worth it if you make a successful kill, but that was true before the nerf as well. You just had more time to make it happen. Now, if it doesn't happen within 5 minutes, you just wasted 400g, and buying a second elixir as the jungler, while laning is still going on, is even more of a risk, since you're already down 400g from the last one. You can rotate it to the support, but then you'll get spotted in top and mid wards, and won't be able to clear them. Or you can buy it again, -800g, and maybe it will pay off this time, or maybe you will run into the same problems you did with the first one.
Something needs to be changed to offset the difference. Dropping the cost would be one way(what did Oracle's Extract cost? I never played the game modes where it was used, but I assume it was less then the elixir). Increasing the timer to a more reasonable 10 or 15 minutes would also help. That prevents it from being infinite, which I assume is why Riot changed it in the first place, but still rewards safe play and allows you more time to get some use out of it. A third method would be to ignore deaths, making it last for 5 minutes no matter what.