Get your core skill + synergies first
Then max blood oath, no matter the build you should have room for it unless you messed and wasted points in other skills that are way worse for your overall effectiveness.
You need dmg first ofc, this is pvm, you want to kill stuff, else being just a tank is kinda useless.
But yeah, only hard points count for the dmg shared, up to 43%.
This is applied after all other dmg modifiers.
This is by far the single best defensive skill in the game.
Examples, with 20 hard points:
At -100res, instead of taking 200% dmg you take 114%.
At 0res, instead of taking 100% dmg you take 57%.
At 75res, instead of taking 25% dmg you take 14.25%.
This is the equivalent of gaining +10.75 max res AND res. But better still cuz if your res gets lowered you still get this linearly scaling dmg reduction as shown above.
At 50DR, instead of taking 50% dmg you take 28.5%.
This is the equivalent of saying that even if you have 50%DR, the skill still gives you the equivalent of +28.5 max phys res AND 28.5%DR that also scales up to the equivalent of getting 64.5%DR if you are suddenly affected by amp down to -50DR. Or the equivalent of turning -100DR from amp into just -35.5 in this case when you have 50 base DR.
Yes it’s always a final 43% dmg reduction… but I’m writing those examples to put into perspective how good it is compared to normal res/dr.
And it also comes with much tankier demons.
Not so relevant for bind demon (still, useful for long runs if he does not have life regen). But it also greatly helps your defilers survive.
Something else to consider…
Gaining so much tankyness from a skill doesn’t mean you need to use it as a defensive purpose.
It can simply allow you to either use more flexible/offensive items, or even dump more points in str.
Think about it… levitation mastery gives 4ed per points. 19x4=76ed.
Getting +43% tankyness could allow you to dump some ~300 pts in str (cuz you also get a portion of your life from gear) and gain ~300ed while still maintaining as much effective hp, with just the equivalent of 3-4x more dmg increase compared to using those points in a skill that only seems more offensive but is not.