Actually, me and Bame also hate it. It's because the Lava Waders should just be made with the skull, boots, and charm, instead of having a weird halfway accessory involved.
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Dapling
Bezixx
Really, I always wondered what is even the point of Obsidian Water Walking Boots if you are unable to walk on lava with them. I mean, the skull already lets you walk on burning blocks, so the upgrade itself is pretty much useless without the charm.
J Bame
I feel the exact same way about everything made with an Obsidian Skull, and tbh the accessory itself. It's literally made for 2 blocks in the game, and you can still get both easily without needing to equip this.