Items with a blocking tag can resist all damage.
Including:Melee Attack,Remote Attack,physical damage,Magic Damage,Even the /kill command can also be blocked.
Sword command:/give @p netherite_sword[minecraft:blocks_attacks={block_delay_seconds:0.0,disable_cooldown_scale:0.0,damage_reductions:[{base:0,factor:1}],block_sound:"block.anvil.land"},unbreakable={}]
That’s the purpose of the bypassed_by field inside the blocks_attacks component. Please read the changelog.