If you don't feel like I've presented any valid arguments, then I honestly don't know what to say.
Essentially I believe that Phase 4 has enough damage for a basic nitaku situation between strike and throw to be sufficient for her to win rounds, with difficulty against a lot of the cast. Her matchups vary on a case by case basis, but in general her strike speed will eclipse her opponent which allows her to poke and prod until her player can find an opening. Her 67H gives her a strong deterrent against high punches that other characters in her speed bracket do not have. Her 2p allows her to keep characters with slow mid strike speed in check. Her spacing is not amazing, but she has solid tools like chifu p, and she can whiff punish with 3k, H+K and her 6P. She has above average throws considering her speed, gets good punishes on BT opponents and has a solid sit-down from sidestep.
Having bad block pressure is not the end of the world in a game where true block strings do not exist outside a very small subset of jailing pokes.
Never said anything negative about her damage, I actually said that's what makes her shine. Pretty much the only thing that does. 3K, H+K and 6P are decent whiff punishment. Solid whiff punishment is something like 236P from Hayate, Ein, Hitomi, Raidou and Jannlee.
Her having an advance hold against high punches still isn't nearly enough to nullify the issues she has. Tina has an advance hold for high punches too, and she has better tools than Phase 4. There are other characters that have a sitdown stun from their sidestep too. My character gets a greater reward for it than Phase does, even with 4K for whiff punishment. Guaranteed 60-70+ with no environmental influence.
To the underlined, having bad on block pressure actually does matter. It matters a lot. PP6P and 66K P+K for example, are bad on block pressure. No one will think so with 66K P+K because no one actually ever fuzzy guards the situation. Phase is stuck for punishment when it happens, even if you teleport into nothing.
You just don't see this because no one does it. The average player will guess at something, rather than think ahead.
Like I said, it's fine if you don't agree on Phase 4. But I haven't been proven otherwise from you that she isn't low.