Speaking of my build specifically, most deaths come when enemies (plural) come out of absolutely nowhere and rip me to shreds. Two soul rippers for instance, or the jumpers from act 2, the big ugly red guys (or the angels) from Act 4, etc. It's not something I can mitigate, control, or foresee. If you cut their damage by half I'd still get destroyed. Making my build able to take one or two hits from junk mobs is worthless when a champ is still going to come in with plague/fire/etc and kill me.
I understand how this is helpful to melee, but as a DH specifically (not a Wizard, as I can't speak for them) I don't know how this is helpful, or how this gives me any more options than I had before.
Like I said previously, the only real way to tank as a DH is Opiate's Shadow Power build, which trades one discipline centric survivability path for another. If this helps that build, then DH's now have two options instead of one. Having two options total is a problem.
This is undoubtedly great for melee characters though.