You are correct, but Block being an integral mitigation mechanic of Paladin (and previously just a second type of parry with physical only) actually had it coming to be reworked. However just like Parry, crit piercing remains to this day, mostly brcause we had Awareness back then.
And even if, there is no logical reason to add +100% Parry Rate when 15% physical damage reduction is literally simpler to implement and leaves zero ambiguity in how powerful it is. If I may be bold, I am actually a bit surprised Bulwark is actually just +100% Block rate as well, given the lack of synergy with Blocking.
I do not see bonus Parry Rate without baseline mitigation (Camouflage) as realistic.
