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Excluding the spectral, the other three spirit shields have the same passive effect (which formaly only the divine had) where they reduce damage at the cost of a few prayer points.
Now in eoc the ability deal you a lot of damage very quickly especially if someone is dual wielding which results in loss of prayer points very quickly meaning you cant have turmoil or ss etc for long without having to drink prayer pots etc which makes spirit shields inferior to other shields like level 90 shields in PVP.
In eoc PVM from most bosses you are not bombarded by ability's meaning your prayer wont drop like crazy so the damage reduction effect is useful, but for the most part people just bring duals or dps weapons unless they are tanking and surely the more armour the better for tanking right, so it makes sense that it would be better to bring a level 90 shield yes?
As seen in the legacy beta level 80+ shields get a provoke ability in case you want to take on the new bosses such as kalphite king . This also makes spirit shields less useful when it comes to PVM
Also the Divine, Elysian and Arcane all share the same passive effect (stated above) but act as Melee, Range and Mage shields respectively, they only difference is there variation in price. So one could save themselves at least 20m if they dident mind a small drop in accuracy and defence to another style.
Finally when it comes to obtaining these shields you have to slay the corp in order to make one, and all be it its a very rare drop which asks the question is it worth taking the time to obtain it when there are better shields out there?
Take the elysian for example around 30m at the moment and is a level 75 shield, you could pay less that half of the elysian and get a vengeful which has better stats in all ways but the prayer bonus.