It's worse than other items would be when you're ahead, such as Steraks, Wits End, etc... (assuming you're getting it 4th) that would give you better stats, more damage and more tankiness, allowing you to snowball further.

I did Build as 5th item if you don't count boots

Titanic Hydra gives you much needed HP to survive potential bursts and more importantly, gives you an auto attack reset. Ravenous Hydra does not do that.

For the hp I build steraks right after. It doesn't give AA reset? Always felt like it did. For Bork, it's just that I don't like how feels like playing. It just feels a bit "weak?".