the only cases where its slight favorable are in mass pvp when bards in full aoe spec
and the other is in mass pvp when necromancer uses volitale infection
eventually a healer which does not get much dmg and heals a whole party can also profit from it
i think its relatively safe to say that bloodlust is a pure pve-solo-stat...
as soon as you have a healer/selfheal more HP is better...