Well if you play a KFM solo doing bosses and stuff, like that daily with the big guy in Misty woods, or world bosses, that's how it plays. Pretty much the expectation is that the boss is attacking you, not someone else, so you have to deal with their normal targetted stuff on top of normal mechanics, like when you're soloing. Other classes just sit in the back wailing at stuff and only dodging the mechanics, which is a lot easier.
It does play a bit like TERA tanks, not necessarily just the dodges, both "tanks" have blocks too, although the KFM block is a 1.5secs counter so you need to time it right, while the BM can just block like the Lancer could(or Warrior later on I believe). No actual limit in fact unlike TERA, if the boss doesn't have abilities that go through block, you can just stand there spamming blocks every 3seconds forever and not take any damage. Obviously you're not generating any threat and every boss has stuff that goes through block. For that stuff you need to iframe dodge it in most cases, which is where it becomes closer to warrior tanking stuff.
To take the current example of "endgame" PvE, Poharan has a bunch of different patterns and you only deal with all of them if you're the tank. She has phases with mechanics that everyone has to deal with like avoid the fire and such but the rest of the time, she's constantly attacking the tank with super strong moves that will kill you quickly if you fail to handle them.
She goes like near instant unblockable daze(have to iframe it and mostly use it based on her animation rather than the ground telegraph), followed by a charge grab which can be blocked/countered(but if you're dazed by the previous move, you're getting grabbed), which does about 15-20k damage(with people having 30k health pools or so), followed by a backdash into a cone aoe that dazes(can be blocked or you can walk out of it). She keeps doing these, and generally failling the first move will forces you to use cooldowns to get out of the daze before the grab, and failling to do so will get you killed.
So the tank constantly has to be doing that stuff(backdash into block into block/dodge), while everyone else just chases her around. Ranged chars don't even have to dodge anything half the time.
One thing that I like compared to TERA however is you don't need to be like, tank speced. I mean you can put a point into the threat stuff and kinda want to, but you don't need the full defensive spec and there isn't really one anyway, and you don't need to use a specific soul shield for tanking and use tank moves that do shittier damage and a tank stance that reduces your damage. Tanking is done more naturally.