Beads and even magi's has needed an extremely severe nerf for a very long time now. Those items are so broken that newer stuff (even older gods) is pretty much balanced around the fact those items exist in the game so you can't just nerf them without adjusting about a dozen other Gods. It's one of those things that is "oh it will be fine since we have beads to deal with it" kind of problem.
Also as I mentioned previously and still is a recurring problem is beads should not in any circumstance render any God 100% useless or nullify a significant portion of their kit.. This doesn't apply to many gods but it's still there.
Honestly the CD could probably go up a bit until Hi-Rez deals with the other issues that item has caused. It should not have the same CD as most ults do in this game. It should be something you pick up because you are having issues with being focused or targeted with CC's often not something that basically trumps every other active in the game aside from aegis which has it's own set up problems. In other words it's pretty much a safe pick up on every god in every match in virtually every situation.
Anyways I tried to play some games on Smite today but it kept kicking me out of the god select screen which resulted in my goodwill going to zero for the first time in over a year
. After that happened about 3 times I gave up and ran dungeons on WoW. lol