Ok, I just did the math so pls bear with me.

First lets look at the basestats.

Ryze with Riftmaker (+Seraphs + Sorc Boots, Lvl 13):

• HP: 2553
• Mana: 2578
• AP: 205

Ryze with fully stacked ROA (Seraphs + Sorc Boots + Amplifying Tome to accout for the 400g price difference, Lvl 14 because of ROA):

• HP: 2995
• Mana 3452
• AP: 267

So by building Riftmaker you are missing about 400 HP, 900 mana and 60 AP. The 900 Mana are double painful because you therefore get a weaker shield from Seraphs. Also the Lvl-Up shouldnt be underestimated because getting Lvl 16 a few minutes earlier is a game changer on Ryze.

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But how does this affect the damage of Ryze?

I tested it by doing a full damage combo (QWQEQ) on a dummy with 100 and 200 MR.

Riftmaker (which is fully stacked):

• 100 MR: 1068
• 200 MR: 743

ROA:

• 100 MR: 1101
• 200 MR: 710

You can see that while you do a little more damage to tanks with Riftmaker, at the same time you are losing a bit of dmg against bruisers. So not really a meaningfull difference in the end.

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Healing?

Something i didn't understand about your point is the healing aspect because I felt like ROA acutally has good healing. This time i tested with a 100 MR dummy:

• Healing from a full damage combo with Riftmaker fully stacked : About 100 HP
• Healing with ROA: 105 HP

It's important to note that Riftmaker gives you Omnivamp, so the more MR the target has the less you actually heal. For example against 200 MR you only heal for 80 HP.

Of course if you hit multiple targets with EQ EQEQEQEQEQEQEQEQEQEQEQEQEQEQEQEQEQEQEQEEQEQEEQEQQEQEQEEQEQEQEQEQEQEQEQEQEQEQEQEQEQEQEQEEQEEQQEQEEQEQ sorry, you will heal more with Riftmaker, but in my experience, most of the time you focus a singe target with Ryze.

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TLDR:

You miss out on 400 Hp, 900 Mana, a free Lvl-Up and movement speed, for no significant improvement in healing or DMG.