Edit: TLDR, just seems like a very slightly worse woven mail with extra steps
Based on what I’m reading, these changes are an overall nerf to stasis’ DR. 36% at max stacks with the fragment vs just standing near a crystal to get 40%.
The only thing that will save frost armor is the ability to get stacks being plentiful, but even then, having to build up stacks instead of just getting it is annoying af. The shiny new cooldown on making shards is also a lovely -blam!- ing slap in the face.
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I think we'll get more insight with what exotics synergize with Frost Armor today, but from what I can see it looks good if you build into it correctly. Hard to tell of course until we have it in game.