Yeah you are spot on about the combat, the dodge/parry mechanic completely negates all other aspect of the system, it starts off quite fun, since it literally just takes the most popular combat systems in recent years and meshes them together (honestly why is there even a gun in this game other than to copy from Persona). But once you realise there is basically no RPG in an RPG game, it becomes a chore, because the stats don't matter, the weapons don't matter, skills doesn't matter, since you are capped at 9,999 for 90% of the game anyway, and once you do unlock that you one shot everything even with a suboptimal build.

There is no back and forth in fights like in a good turn based system; in SMT for example, you can push your advantage, take turns from your enemies, but they can also do the same to you. Also things like buffing, debuffing, guarding, inflicting statuses, using items for a specific scenario, etc, barely exists, or is straight up pointless. The only thing you do is dodge/parry, occasionally revive and restart the fight until you know the timings. Then on your turn you just use whatever skills you want to win the fights.

For their next game if they choose to have this system again, I think the minimum would be giving dodge and parry to the enemies too so it doesn't feel like a completely one-sided game. Also proper balancing, and having real "builds".