It's beyond the point of wondering if it's balanced or fun. It just doesn't feel like we're really taking part in the fights.

All attacks one-shot or deal very high-damage, with most of the time a defence debuff that can't be cured. And it's obvious it has to be this way since we have far too much heal power and MP. The result is : we don't actually have much agency on the fights outcomes. The only things that really matter is whether the other players are dying faster than we can raise. Filling HP between attacks is trivial and could just as well be automatised. In the best (worst?) case, everyone is doing perfect and we just have to dps (which is not far from "doing nothing"). It's a farce.