Not every increase in displayed AC is equal.
Displayed AC is made up of two forms of AC: mitigation AC and avoidance AC (i.e. reducing how hard you are likely to be hit, vs reducing how likely you are to be hit).
The second form of ac, avoidance AC is subject to a very harsh rule of diminishing return where you get a much smaller benefit after 75 Agi.
'Worthless' is just typical hyperbole where people are only capable of binary thinking (something is either good or bad, with no shades of grey). Worth less would be a better wording.
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