No, as Loiter said, only the physical damage will benefit from the increased dmg from the eth property, which is like less than 1% of the total dmg.
And if we see the question from another angle, no it’s not better if it’s for gm duels, because the quantity will still drain slowly when you hit with it (cs), so it will eventually break because it can’t be zoded and it doesn’t self replenish.
But if it’s for pvm, then it will look cool, so just change it when it breaks.