Maintenance for the week of February 2:
• PC/Mac: No maintenance – February 2
• ESO Store and Account System for maintenance – February 3, 6:00AM EDT (11:00 UTC) - 4:00PM EDT (21:00 UTC)
The maintenance is complete, and the PTS is now back online and patch 11.3.3 is available.
I had the same thought..this is basically having corrosive armor active at all times except for all damage, not just direct. If you slot some stuff to counter the -46% (Malacath band?, swap to wpn/spell dmg mundus, sharpened to nirnhoned etc) it could work out.