While you are not wrong, that looks very intimidating towards people who aren't mathematically inclined. I tend to say it in simpler terms:
Damage is CharacterAtk*ElementalAtk, when super simplified. So the one which is better is the one you have less of.Another note about Lilims: 90% Character Atk for 3/5 units is NOT good. It's basically "regain the damage output that you lost"
It is extremely difficult to make Lilim builds work. Please don't even try.