Yeah, the mob is killable.
But honestly, I feel that this is an awesome place to say ...this mob is stupid. Absolutely not worth it , a mob that damages your armor and gives you crap that wont even sell for enough to pay for your repairs is pathetic.
This kind of thinking when it comes to encounters really has to stop, if you're going to attempt to make an interesting encounter don't throw in a stupid armor damage, or make the rewards worth the fight. You know that when you make an encounter avoidable and most guilds do avoid it, but know it drops loot, then there is something wrong.