Well i think if it's blessable it may be worth more as imbued jewlry doesnt last forever and this one would, but you're right if it's not gonna be blessed then I agree and I really hate what imbuing will do to our economy. But that bracelet is sharp for a few templates!
I think jewelry will last forever unless they have changed it so every time you repair you lose a point of durability.
Jewelry, from what I've noticed doesn't seem to lost durability as fast as weapons/armor, so you can keep them at 255/255 with repairs easily.
I don't think imbuing is destroying the economy, it's just re-prioritizing what people desire. You'll see blank 1/3 & 0/3 going for hundreds of thousands these days, as at a minimum FCR3 takes 5 relic fragments. If you can save yourself a couple hundred grand on frags and buy a blank for 300k, I'm sure most people will do it.
Same for FC1 jewelry, you'll see people wanting FC1 w/HCI, DCI, etc to get a jumpstart on the imbuing for cheap.
Just have to wait and see what comes into demand now.