no it's not. attacks are now based off of psy % or int % , nothing to do with matk. matk is only for auto attacks anyway which no one cares about (staff)
you're not gonna find a wand with 1xx stats , so not worth investing time into that, use a sword/dag/mace
My judgement does 4-5k damage and I use stedman's sword with psy int vit
Edit: I also quoted the wrong person, was meant to @PenguinJoe