Blood magic really is pointless.
I just feel it would have been better if it left a sort of bleed effect so your health didn't disappear it left a red bar (like in Mon Hun) and if you were hit you lost it otherwise it slowly regen'd. Also the lack of blood magic is disappointing. 4 whole spells, none ranged? It was a nice concept but severely imbalanced.
What pisses me off the most is you don't get counters when you use it