Honestly, the problem is not the bars themselves but the strength of the effects that they prevent. Enemies have high armor because devs know that once that bar is gone, you win. It becomes a stun-lock sh!tfest. Even heavy melee-focused enemies have a ton of magic armor because they realized that once you break it, you win.
Try playing the game on the basis of stun-locking. It just ruins everything.
The easiest way to win DoS2? Build a team of DPS and high-initiative classes, bring a bunch of stun, get a few hits off and then get bored of the game.
They need to reign-in the amount of "lose one turn" you (and mobs) can put out in a fight. Then they can tone armor down a bit on mobs...or even (here's a novel thought) make a few enemies specifically weak in one sense, physical or magical, and strong in another.
So less hard CC and more soft CC and more armor specialization? Could work, but requires them testing things again -_- I'm slowly coming to the opinion this is too integral to their design and don't plan to change anything