Yeah that's completely screwed for the moment, but I think it's just a tooltip error, the components work the same as before.
I have a legendary Divine Vengeance, and it's definitely a monster. It destroys absolutely everything if you aim for weak points - Turrets or big Scar shield guy cannot withstand this weapon for example. Ursix(es ? ) get rekt too.
It only has problems with basic Skorpions, as I'm not even sure they have weakpoints lol
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Now they've added the Ultimate Inscription Masterworks component and upgraded it (+30% damage), I'm seriously considering equipping it, but 1) to replace which one and 2) still have to wait for better inscriptions on this one (all my components have +20/+25% Ultimate cooldown and that's insane).
On another note, am I the only one "unlucky" with legendaries ? I've had 1 ability so far (that I don't use ; Hailstorm's Renewal, I prefer Winter's Wrath) and maybe 200 billion weapons but no Component... Kinda blocked powerlevel-wise.
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One thing I'm a bit disappointed with this patch is that they have maybe exaggerated the increase in power of the Ultimate. Why am I one-shotting GM1 Freeplay Titans ? x)