Because it does nothing against magic. And armor alone is usually effective enough against melee attacks. Basically, only take parry if you just like being comically tanky, don't mind gimping your damage output, and don't mind giving up another more useful skill in the process.
I've noticed this as well today actually. I was in tera champ with another blue for the entire duration. I left to restock and came back once (not sure if he did). At the end, he had 22k damage, and I only had 6k damage, which is ridiculous because I was using a slayer bow and burned through...
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