Hey, thanks for the feedback, to answer your questions :
-Yes you are, I know that it might feel counter intuitive but it's meant to put you in danger while already having low hp due to the drain.
-There's a cooldown to the bowtie, It's represented by the bowtie filling up on the UI, the UI bowtie also disapears when you don't have it.
For the rest of the criticism, I don't have much to say apart that I agree with you!