I actually rather like this idea. Customizable difficulty would be an interesting idea.
Or just make it part of the "hard" difficulty setting.
I do think it should be possible to get 100% resists, if only with spells/potions, just because a lot of the game seems balanced around that being possible.
I also really, really want to know if it's a bug or an actual design decision. When things aren't in the patch notes like this I don't know whether I should restart or can keep playing or what because I don't know what the intended rules are.
My
guess is that the 80% resist cap was part of a test build that accidentally got pushed live. It's a decent idea in the abstract but obviously something that wasn't fully tested (if it had been, they'd have found the issue with Zombie, the pyro pbaoes, elemental affinity, etc).