OOC Unlimited!
Perhaps, but it is arrogance that can be backed up - the Awesome Ego, if you will. Invulnerability in particular operates on D&D 2E Damage Mitigation rules - very binary. Either you have the thing which can damage them, and get to do damage and partake in the battle, or you do not, and get to go into a corner and cry if you cannot do anything meaningful other than damage, like taking away their actions by forcing them to deal with combat moves.
In my case, magical weapons and Physical Prowess Power Attacks deal damage, supernatural physical attacks deal half, deprivation, suffocation, and artificial poisons deal quarter damage, natural poisons deal one-sixth of their effect, and disease, aging, sickness, radiation, and any attempt by physics, psychics, or magic to do direct damage to me with external forces short of nova, nuke, or atmospheric reentry-level forces does nada with the prior exceptions. Likewise with actually dying from poisons - they can weaken me and set me up for something that can take me down, but I can't actually die from them alone.
Magic like Energy Bolt, Fire Ball, Circle of Flame, Call Lightning do nothing. Things like Magic Net, Fear, Wisps of Confusion, Life Drain, Stone to Flesh, and the perennial-for-good-reason Carpet of Adhesion; if things like that get past my saves, those can wreck my day. Psionics have a similar effect - I'd probably get annoyed at a telekinetic's efforts to bludgeon me to death, but Bio-Manipulation or something like that I would certainly notice, and said TK could use me as a bludgeon against everything else if I couldn't break out. Fire Fist and Psi-Sword expressly hit me.
So, yeah. That's why I'd want to dodge into a hit. Then again, I'm the Altruist, and might dodge into an attack I'm not invulnerable to if I think I can take it better or if I don't have time to calculate relative worth vs theirs and just act impulsively taking a hit I cannot handle.