I remember patch where it still was 100%, and eth was by far the best options. Dropping it to 50%, and if you have just regular one, then it isn't clear winner anymore. Up there, but there are other options.
Issue is you can't combo anything besides that stormblast proc with lightning pierce you stack. If axe worked with self cast stormblast that would have been another story. There is little bit of flat lightning damage from daedalus, but thats not much.
For instance if you go some other 800dmg axe and ancient hand, stack fire pierce, quite sure this will win just from sheer number. Every swing releases significantly stronger skill, and you can just focus on one element.