Does 99.8% acetic acid cause severe skin burns like formic acid?
Yes it is corrosive to skin.  The Safety Data Sheet identifies it as Category 1A for skin corrosion, which means:

A substance that, according to animal data acquired from a scientifically validated method, produces irreversible damage to the skin after an exposure of three minutes or less, and within one hour of observation, in at least one of three animals.

Don't let the &quot;organic&quot; part fool you.  In terms of handling hazards glacial acetic acid rivals concentrated hydrochloric acid, and actually beats it in skin corrosion classification.