It makes the most sense for us if it did work like that, higher number = better effect, but it's not how the game really handles it. Stats scale differently depending on your level, it takes more of it to have the same effect. If it didn't work this way then eventually, after enough expansions/gear upgrades, we'd all be running around with 100% defense, crit, parry, etc.
It wouldn't hurt to test some more to be certain but I think that is what is happening here.
