I really enjoy the fact that Bleeding edge is not yet another FPS, so here's some thoughts from someone who really wants to see the game do well.
The game lacks a high risk-high reward defensive option. There is a parrying system but there's nothing to be gained from it, while still being hard to pull-off. Why not give it some kind of extra reward to make it more enticing than dodging?
I was thinking something like a frame advantage for a counter attack or instantly replenishing some of the dodge gauge or even have a successful parry give invincibility frames so you can run away when the enemy gangs up on you. The last one won't give you an advantage in one-to-one situations, but it can be a lifesaver when you have the whole team against you.
To balance it, the timing of attacks can be made to vary based on the timing of the button presses. So the attacker has to mix their attack inputs and the defender has to read the opponent. In that scenario, dodging is still the safer option if you have the resources, but there is an alternative to punish button mashing attackers.
My point here is not to buff or nerf a fighting style, but to give more ways to approach a situation. Games like Hellblade: Senua's sacrifice and DmC Devil may cry (you might have heard of them) reward precise plays by opening up the opponent or rewarding the atacker while they can punish botched attempts. I think Bleeding edge could benefit from mechanics like that.