I got real tired of late-game shit so I signed offline and cheated my ass off. Even with infinite health, there are situations where you can find yourself stuck in a gank squad, unable to do anything for literal minutes, until the stars align and an opening presents itself. Watching some of these infinite stamina, flawless tracking combos play out sure is something. I still think DS3 is a better game than DS2, but not by much.
Fun note - those stupid ass jailers can still kill you even with infinite health enabled. From somehow made a worse enemy than the singing brains in Bloodborne.
Does the drain actually kill you? I've always been curious about that as I always run away when my health starts getting into the single pixel territory.