I think you are supposed to avoid loosing health...
But yeah, there are some issues with balancing yet (this is an early acces of a demo), but if you keep in mind the updates are supposed to be used in 20-minute runs, and you get a lot more updates active at the same time, they make much more sense.
If you are going for a burn build, you are probably going for attack speed or more bollets to try to inflict it as much as possible, so sometimes it can get triggered once per minute.
If you have, lets say, more than 9 minutes left when you get te second one, you wolud heal 6 times in total in the whole run.
Do your math, you donkey