Wouldn't we end up with a somewhat stupid amount of buffs and debuffs on screen?
Depending on the activity.
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Warframe has a nice way of doing it without over cluttering the screen, kind of.
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Honestly decent point wouldn't be terrible to have them at the top with teammate health too
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They could make the effect overlay more Dynamic so that it scales. That, or they could give buffs priority levels for displaying. That way, the important stuff is on top.