This struck me as something odd.. theck the mod for it.
I must ask... why...
Magick Catastroph
Lasher Dragon
Dude you think that's bad? At least that is a randomly-spawned item with random mods - look at this item from a collector: link
Shappie
I have a friend that found one similar to that, only the energy mod was +5. So the whole thing was +5 energy, +4 armor, -5 energy. o_O
Than
Could be worse, could be like the olden days of Diablo where you would identify a item and find out that when you sell it you got 1% of the identification cost back cause of the crapy stats.