It’s only a pvp nerf. Yes they are reducing the total health of the bubble but they are also reducing the damage PvE combatants do to the bubble to compensate
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People still use bubble in pve, I thought it was all about banner shield and thundercrash. That isn't sarcasm that's me being legit.
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It has some very niche uses; I think it’s more so used as a crutch for some folks than anything else. Def a good super to help you survive if you have trouble