I've been talking between me and my friends (one of which took Game Design classes) and I kind of came to this realization on my own.

Parrying is what breaks For Honor's Balancing

Above all the other problems that For Honor has with its identity as a Fighting Game is one key factor. The Parrying System. The Parrying System is the biggest roadblock to this game being a Balanced fighting game. Because not only can everybody do it, but when you get to the higher tiers of skill, if you can't bait or do a good enough mix up, your attack is going to get parried. There's no getting around it. Not only can it block against literally everything except Guaranteed Hits, it can also allow the player to punish the enemy beyond a mere-counter hit.

Think about it, genuinely think about it. How much better would characters like Conqueror, Lawbringer, and Shugoki be if Parrying wasn't in the game? (and better yet if Dodging wasn't the All-Powerful ability that it is.) All of those slower but more powerful attacks would become much more viable now that they can't be punished so easily by any class. They'd actually have a purpose behind them.

This also makes more sense when you think about literally... any other fighting game in the world. How many other good fighting games come to mind where every single character has a Counter ability that can be done at any point with any move? How many characters would that break? Besides, the Assassins already have a perfectly normal Counter-Attack with their Deflect.

It's really just this simple, Parries turn the idea of Slow but Powerful into Slow and Useless.

If For Honor really wants to start balancing its game around more than just guaranteed combos (OG Warden Vortex comes to mind before it got patched), then they need to get rid of the Parry system. Because at this point, incorporating Un-Parryable moves will do nothing but shift the meta around them, where Un-Parryable moves become the only viable moves, and then to get around the Un-Parryables, people will play Assassin who can get around them, so why bother even keeping it if everyone will just avoid it now if Parrying becomes heavily punishable?

It was a really cool idea but... it's not a system that's meant for a balanced fighting game.