I have no idea how to link images, but this is false. If you hover over an individual resistance stat, it states it caps at 33,000 or 50%. Anything beyond that still does nothing, even if it says that it does.
Have you tested this in actual combat? Armor rating has always been able to go above 33000. and I feel like the UI is just doing (armor rating / 660) math, and it gives a number above 50%. But you are still capped at 50% mitigation and that extra mitigation is just a hedge against debuffs. I feel like the 69% is a confusing way of communicating, "You can have your mitigation debuffed by 19% and still be at the cap."