It's power creep as it is now, although player power creep has kinda already gone way out of control. On the other hand, I think I prefer Overguard-based survivability more than just "90% DR" survivability; maintaining Overguard is somewhat more involved than "press 3 every 40 seconds". And as someone above mentioned, 100,000HP is mathematically similar to 1000HP and 90% DR.
If providing Overguard to a whole team becomes a common ability type, I'd like to see squads where they rely on that instead of everyone just bringing their own DR method. Warframe has a distinct lack of actual teamplay beyond "4 dudes killing stuff in the same general area"; relying on team-based Overguard could be a first step towards enhancing teamplay and cooperation. The last time Warframe had actual teamplay was Trials and maybe Railjack 1.0, but they're long gone.