Bleed is a Material Ailment, not Material Damage. They're different things; Most Ailments in this game are automatically added to your attacks based on the highest damage type of whatever attack you're hitting with. Toxic = Poison, Rend = Bleed, Fire = Burn, Ice = Freeze, Lightning = Shock, Sacred = Weakness, Shadow = Curse, Aether = Stasis. Physical is an "empty" damage type with no Ailment, letting you add whichever one you want to your purely Physical attacks just by adding the corresponding damage type to the attack.
Bleed is inflicted by Rend damage, which is Material, so it's a Material Ailment (along with Poison which is inflicted by any Toxic damage). Things that say "Material Ailment Chance" will increase the chance of Bleed/Poison, and things which say "Material Ailment Damage" will increase Bleed/Poison damage. However, things which only say "Material Damage" will not do anything to Bleed/Poison damage; Ailment damage only scales off of two things in this game, your character's level and bonuses which specifically mention Ailment damage.
So yes, the nodes you mentioned do not increase Bleed or Poison damage at all, and Blood Reaper will pretty much guarantee that Rend is your highest damage type on any Physical attacks, but I don't know exactly how skills with non-Material damage types interact with Gods Amongst Men so I can't say whether it would make Bleed/Poison the only possible damage ailments.