It's a useless stat in PvE. The slight health boost it gives you is a joke. Bungie, I get that you wanted to make it balanced for PvP, but couldn't you maybe add some sort of PvE-side function; an actual increase to damage resistance against enemy AI, like the Minor/Major/Boss Resist mods? Even if it's just a 2% increase per tier, that would be better than this.
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You know somethings a big deal when the fourth hokage of all people steps out of the show into real life and makes a post on bungie.net about it