Wraith obviously isn't as it is introducing a whole new system that deals with CC when armor is exhausted. So no, it is arguing something completely different and the root of that is due to the encounters not having enough armor as well as the players not having enough of it. Then again it's just the first chapter.
Armor will become relevant when there is a chance to react to it being depleted; right now there is no reaction because the damage is way too high in comparison. Spells like frost armor, at this current juncture, should be used ahead of time rather than in reaction to something. Most people aren't stacking 400 magic or physical armor.
Once it has become exhausted it is relevant because it's about potential; potential to regain 600 shielding, potential for whatever else meaning that CC has to happen immediately or relatively soon. The problem is that encounters aren't tuned that way and players aren't feeling that urgency because there simply isn't enough of it around at chapter 1.
