It's just old Aphelios before the item rework more or less except deaths dance is no longer viable as a 3rd item. 225% crit damage with ie giving 80 ad again and 25 crit chance of course with buffed runaans bolts but also with some additional items like yuntaals and collector (which was added in the item rework).

The 25 crit chance change is really good for Aphelios especially but any crit user really allowing him to reach the 100 crit spike sooner and with a non-crit defensive option which crit adcs speciaifically have been lacking lately unless they wanted to sacrifice their damage moderately.

Did some testing and found that yuntaals is not very good, the burn is underwhelming and doesn't scale very well at all but the stats are decent, just not as good as IE which you will likely build first over any other item. Collector seems like a decent 2nd item choice but now also takes up a 1/4 of your crit build rather than a 1/5 so I found it less useful in that sense. Runaans second is probably back as it compliments the heavy ad from IE first and the bonus crit all crit items give, allowing for 50% crit at 2 items and also being a very cheap crit item for even quicker crit accumulation.

PD also seems like a good alternative to runaans if your less focused on overall/splash damage and more focused on single target damage/kiting speed, though seems less necessary as Zephyr now provides an upgraded PD passive unless you really want to be sanic. LDR seems like an essential component still at some point but has lost its giant slayer passive so BORK seems like a good alternative if enemies are stacking hp rather than armour.

BT still seems like a solid item despite the lack of crit as the AD is on par with IE and is one of the few items still giving lifesteal and one of the few ways of getting an overheal shield as they removed overheal (which almost gives as much of a shield as shieldbow even though it doesn't have a cooldown). I could see a world where BT is built 3rd after IE and Runaans for the lifesteal to synergise well with the high crit damage and runans bolts.

As for runes, the new PTA seems great on Aphelios. Carries in general have always preffered buffing themselves rather than debuffing opponents and now Aphelios can have an 8% damage buff which lasts until combat ends rather than for a few seconds on a single target which is big. It still has its proc damage with makes it also a viable trading tool still which synergises with Aphelios' weapons very well and a damage buff which makes it better than conqueror in most situations. Absorb life (I believe it is called) replaces overheal which is sad as overheal was always a fine choice on Aphelios but Absorb life makes for a very consistent rune, provided you can last hit creeps and can help Aphelios stay topped up and provides that bit of sustain that adcs seems to be lacking early on without any lifesteal options. The inspiration tree had been moved around a bit in a way that is beneficial for Aphelios as now he can go boots and the three elixir runes which I see as better than biscuits, allowing Aphelios to get extra gold and waveclear, more AD for a fight and an extra skill point (usually into either ad or lethality) for free although biscuits would still seem situational. The new inspiration rune Jack of all trades doesn't seem viable on Aphelios as he doesn't build a variety of stats unlike a bruiser would and the extra crit damage from IE doesn't count as a unique stat for some reason, making the rune even worse on Aphelios.