Just tried Rag with a wind team and I took over 5k damage per person from an enraged Ixion, after stacking every possible attack down debuff on Rag. It wiped my whole wind team.
My water team averages about 7k health instead of 5k health on my wind team due to jorm bonuses + weapon buffs, but I'm not at all certain they can survive this ultimate either since they take a lot of extra damage from type disadvantage. I'm thinking about trying a thunder team instead of a wind team (my thunder team has no type advantage, but is stronger overall) and trying to run Perun to negate the massive spike.