This is another common saying, but I don't think it holds water. You don't even consider parrying when a tankbuster comes because you already have a CD rotation for it, of course. Its kind of a null-and-void discussion and doesn't even apply. No matter what a given tank thinks of his/her parry stat no one counts on it for a TB, so measuring it by that yardstick is not an effective judge of value because that's not what anyone hopes to utilize it for.
Auto attack damage is not negligible, its a huge percentage of the damage that you take in a given encounter, and parry mitigates hundreds of thousands of damage over the course of a fight now. Obviously none of it is anticipated by healers and it doesn't really change much, but it does happen. But the bottom line is, it didn't help you end the fight faster, and that is why it is undervalued. DPS is still the most effective mitigation due to raid design in this game. RNG has little to do with it unless the RNG was so extreme that you had a chance to go an entire phase of a physical fight without parrying. You actually parry quite a bit, its just not really helping anything in its current form.
Sorry my briefly stopping to call out your unoriginal suggestion had to send you into a tailspin of vulgarities and name-calling. Doesn't change the fact that its something that too many people say without really stopping to consider the core of the problem, which was the point of that post.
Such a stat still would only be taken for its DPS value, and if that value was higher than, say, DET, there'd never be a reason to use DET ever again.
Attaching defense to an offensive secondary just feels lazy. There should be more than one defensive secondary stat and it should be a choice, at least among most of them, as to what you choose, DPS or mitigation. And having something that just flatly reduces damage by xyz percentage, across the board 100% of the time does little to differentiate it from defensive stats that we already have (def/mdef). DPS secondaries all boost your damage, but in different ways. Det is more like a flat, across the board increase albeit very small, crit is RNG, and SS doesn't actually boost your damage outside of DoTs, but the rate at which you deal that damage. They really ought to come up with a creative, varied spread of tanking secondaries if they're going to do it at all, which I doubt, personally.



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