the fact that you could just walk out of grab was a bug that was never intended.
Basilisk grab is completely effective until you get battlesuits. That covers S1 and S2, regardless of gear.
The big issue here is a grab, from any direction, will slow the human long enough for the basilisk to get behind it. Helmets allow you spot them in advance but if they get near you prior to killing them, you can potentially lose far more that 1-2 evos worth of credits because of a long ass grab time.
No weapon, medikit, or armor is going to matter once you get behind the human with a basilisk. Its not balanced. If grab time was lessened based on armor...I could see why a 1-2 evo basilisk should lock down a naked human. But a human with full gear, pack, and maybe nade is easily double the cost of the basilisk. And its just as weak (with the exception of radar) as a naked human.
Grab is just too long and saying it supposed to not break at all once connected makes it look worst.
edit: I watch Risk play a lot and he dies a lot. Really, its TK damage from trying to pry the basilisk off the human that feeds him a fair amount of credits. The tk damage and subsequent kills from trying to fight off will fuck up the cost balance of them.