340 armor with around 3500 health Malphite Vs Draven and Zed
Guessing at this point they were near full build considering you must have been close yourself.
At this point, they start to out scale you, they would have already out scaled you if either got fed or you fed your lane.
Draven is a tricky champ to play, but he is well worth the effort, late game he can melt pretty much anyone, it's by design.
There are other factors to consider as well. Did your team have anyone else building some tank, or any CC on your team besides your one knock up.
Was your team prepared to meet this problem head on or did you and your team just make a huge mistake and forget to try to counter build/counter play either of them?
I would rather deal with league of tanks than league of useless defensive stats that one item pretty much negates.
I wouldn't. I don't care for matches to go on for an hour while no one pushes objectives, no one is able to do anything because the only people that survive team fights are the tanks who can't push for crap.
Besides that, no, one item doesn't negate a defensive stat, it weakens it, not negate.