July 2020 and this item still does not impart any HP regen.
Added an image to show its minimum stats (at Noon game time) and its maximum stats (at Midnight game time).
At the minimum it is just barely better than the PoP wooden figurine charm that most people would be upgrading when Gates is in era. At the maximum, of course it is much better. So every 72 minutes you have a decent item for about 6 minutes, otherwise it's mediocre.