Feinting was one of the reasons why I stopped playing Chivalry. It is a horrible, luck-based mechanic, reducing the skill involved in one-on-one engagements. In a game revolving around reading your opponent and choosing the correct reaction, having a move that is indistinguishable from another one, is completely out of place. A feint can punish a player for making the right choice - defending against an incoming (to the best of the player’s knowledge) attack. That’s unacceptable.
From what I understand, feinting was implemented as a move for breaking long attack-block exchanges between fighters. In my opinion, the approach taken was completely incorrect. Instead of adding a new mechanic, adjusting the block and parry timings would be much better. Making blocking harder would make really long exchanges rare, because it would be easier to miss the correct moment to block. Also, for me at least, the long fights always were the best ones as they give many chances to outsmart your opponent.
Unfortunately, feinting is not a real skill test for the defending player, but rather a simple roll of dice.