Is bleed status effect good?

[Wolfram]

I got a build in pob with 21k bleeding dps and 100k phys dps.
That works like: hit an enemy over a single second, deal around 100k damage and the next second he has 21k health less (unlike I hit him again which I would anyways)?

[Dwane Dibbley]

Its only good for buffing other abilities that triggers against bleeding targets. For DPS its terrible as it dont stack (only bleed from single hit deals actual damage). If u want to do dot damage, go for poison as poison stack.

[Wolfram]

Ok. Thanx ;)

[Drake]

Correction, bleed can stack up to 8 times if you pick the crimson dance keystone passive.

[Dwane Dibbley]

Originally posted by Sajah:

Correction, bleed can stack up to 8 times if you pick the crimson dance keystone passive.

You can "correct" almost anything as there are keystones and uniquest cappable of breaking almost every rule. Dance also decrease damage of bleeds and overal it wont turn bleed into meaningfull source of dps even if you heavily spec into bleed damage as you are still heavily capped and vast majority of your hits wont apply bleed over said cap.
I would consider bleed as dps source only for bow mapping as you can apply bleed from afar and let enemies take extra bleed damage as they run towards you, but against bosses its just laughtable cuz they usually dont move much and 8stack limit prevents bleed scaling with you dps.