Given ASW's track record with loops in GG and BB, parry loop was most definitely not intentional. Just because parry takes advantage of the way jump cancelling works doesn't mean its intended to be used like it is now. 5k meterless combos and 7k with meter combos is pretty absurd from essentially just doing 5B5CC JCxN. A lot of things aren't meant to be the way they are (which is why characters get changed). While parry loop isn't absurd in its effectiveness, it's absurd in simplicity.
In general, quality control at ASW has been pretty poor as of late (CT Nu and Hakumen not having loketests, DLC/console characters not getting loketests).