Long (but important) post warning. Tldr, Parry would be better as a button you can hold, constantly draining your stamina to keep parrying whatever attacks come at you, where if you release the button at the right time, it's a perfect parry. Why? See below.
Currently, parrying has more risks and fewer rewards than Dark Souls. New players dash because it's easier, and more experienced players are only rewarded with style points since they don't need the healing to win fights in the first place.
Stret Fighter 6 pioneered a new kind of parry that fixes both issues: The Drive Parry, a stance that slowly reduces your stamina and parries all attacks for as long as you hold the button, giving new players what was effectively a block button... but as they get better, they can find their own balance for risk and reward through timing it just right for a perfect parry, allowing players to get those style points through a special animation despite being a tool that could be used by anyone. This would also be great for a game where enemies are attacking you in all directions, no longer completely vulnerable after the first parry!
In HLB, this could be a stance that slowly drains stamina, giving you that colorful ethereal appearance you have while dashing, but instead you're standing in place.
This works towards the narrative of the breaker's arsenal. The dash makes you seeming weightlessness, allowing you to propel yourself off the ground with ease. I've been suspecting from the fact we can't move through objects that the feet remain solid so that you can step off the ground, so perhaps that remains the case here, where AOEs & groundward attacks can still hit you as a result.
Lastly, this can even be used to make stat allocations more consistent, since it gives players a benefit from not gaining a full bar of stamina per level up.
And that's everything! Hope to discuss with you guys.
