Nah, I don't see it replacing Malacath or Wild Hunt in PvP. Ring will be Bis though for Solo PvE. You could solo vet dlc dungeons, dsa and normal brp with ease.
Also, the rings heal isn't effected by battle spirit. It's just that in PvP, it's better to invest in health recovery rather then healing by doing damage, you're not Aatrox in LOL. You're usually fighting multiple players and it's hard to deal a lot of damage to multiple targets especially with high resistances, shields and 50% reduced damage in PvP. Hope that helped.
Nah, I don't see it replacing Malacath or Wild Hunt in PvP. Ring will be Bis though for Solo PvE. You could solo vet dlc dungeons, dsa and normal brp with ease.