Dichotomic Fire  

The spell autocasts a second spell that scales up based on your The Broken Mirror Progression. Each class also gets a 6 Rank spell line. This Dichotomic Fire is for the Wiz class and will cast Dichotomic Fire 1 The final rank is something like 127k base damage, so yes the 17k base mana cost is intended. It does get focused by mana preservation so it won't actually be 17k, more like 8-9k depending what mods you have active.

Note that the secondary spells are level 250 which mean that certain mods will not work on them, notably worn focus, spell focus (bard/kerafyrm familiar), the new vortex effect, and a couple others that have level caps on them.

The base spell has 1 point of damage on it so that it can be focused by spell haste, twincast, and a few other things. The extra damage you see is from passive AAs, spell damage, focus, etc which make that 1 point go to 1k.