Parity is expensive to compute with 1970s hardware. If you look at the die of the TMX 1795, the parity flag computation is a substantial part of the die, about half the size of the register file or the ALU. The first problem is that XOR is an inconvenient gate to implement, especially if you use standard MOS logic. Processors usually have special pass-transistor tricks to make XOR more compact. The second problem is that parity needs to XOR all the bits together, so you don't get parallelism.