The nephalem's power has the potential to rival and even surpass that of angels and demons combined (see "sin war" lore) as they are the closest representation of the being (anu) which formed the high heavens and from whom all it's negative powers manifested into the primordial dragon, Thatameth (which later succumbed along with Anu, creating the seven lords of hell and the burning hells as well).
The book of cain really gives you a large insight into Diablo lore ;)
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