The new mace weapon's damage increase from falling is applied while flying with an elytra. This is extremely unbalanced and likely unintended, as it means you can instantly get more than enough damage to 1 shot a player through protection 4 netherite armor simply by fireworking up, and then back down to hit for massive damage in an instant. In the attached video, the skeleton is wearing full protection 4 netherite armor.
Relates to MC-269391
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Related to MC-210371
I can confirm, as you pointed out, it's likely intentional. This seems to be a matter of balancing.