Question about Fungi Tunic

[Sillyturtle]

I don't have one so I can't test, but the Wiki says it casts a spell (Fungal Regrowth) as a permanent effect which does 5hp per tick at level 1 and scales up to 15 per tick at level 20. Can I take this to mean that when a character is level 20 or higher, they'll receive the 15 per tick boost?

This would be why Fungi tunic is worth more than something like Ceremonial Iksar Breastplate which does 5 per tick at all levels, correct? I mean aside from Fungi tunic having less class restrictions I suppose.