Status Effect - Phasing

What does it do?: Phasing allows the player to be effectively "intangible," unable to be hit but unable to hit anything else. This does not effect block placement, only mobs. This also does not effect block interactions such as lava or dripstone accidents.

What's the goal?: The effect serves a few different utilities: Escape, Peace, Purpose.

• Escape: Phasing could be an effective way to escape a very deadly fight, as a sort of last resort without necessarily "cheating death" the way totems of undying do by just having it in your hand. Higher risk (time to drink potion), higher reward (not expending a totem).
• Peace: Oftentimes, a builder will have to deal with a lot of mobs that they don't want to, especially in darker builds. Phasing offers a way to be around mobs without them being a massive nuisance during a particularly strenuous build.
• Purpose: I think having this be a potion effect would be able to give further purpose to other items in the game. The thought process was to use Eyes of Ender or Ender Pearls in the brewing stand, giving them further game function.
• Balance: To balance out a relatively powerful effect, I think it'd be useful to have a general choice of "magical attacks pierce Phasing." This would include things like splash/lingering potions, guardian beams, spectral arrows (bringing new use to those as well!), the warden's sonic boom, attacks like those so that structures aren't compromised by this effect.

Feedback appreciated if possible.