Versatility literally increases the damage and healing you do by a percentage, doesn't mean that it's good for you, just as the amount of parry tanks get from crit is absolute garbage and can pretty much be entirely overlooked. Another thing to note, unlike increased damage and healing for you which is always useful, not all forms of damage can be parried for tanks, making it even worse.
And I believe I said "little to no survival", as in the amount it brings is so minuscule that it can be pretty much completely ignored.