You're all right. It's UP because it's inefficient as a beatstick compared to Purple Dragon, but once it hits the board it becomes very OP due to being able to quickly take out huge chunks of max HP and essentially locking a player out of using healing.
Lower the cost/scale down the body, but also nerf that max HP cutting ability down to Shard of Void levels. As is, it's too unfair to both players in different ways.