Relics of Moria is overpowered and should be banned, but I wouldn't count it as broken. Even though I'd play it in Firebomb decks, it doesn't automatically win games, and it's not negative play experience (NPE). You can still beat Moria, by removing conditions, pumping the ringbearer, defender+, and
PATHS. Also, playing Moria restricts the fellowship - you can't play a slow deck that holds events, like
Servant of the Secret Fire, because the Shadow wants to cycle cards.
If
Goblin Armory didn't add twilight, Relics would be acceptable: "pay 2 to draw a card and get a +2 strength." That's strong but not bad. Once we get to free cards, or adding 1-2 and getting the card, then we have problems.
The Free Peoples equivalent is
Aggression, as vastly undercosted card draw. That card is also justly banned.