I think you are over-thinking things
All that really matters is that the contents of each parity disk is calculated independently of each other by doing mathematical operations against all the data drives, and that each parity drive allows for the failure of a single array drive to be handled. In your case where you unassign parity1 and assign that drive as a new data drive you expand the available space by the size of that drive, but you are now only protected against a single drive failing as you only have one parity drive left. Unraid does not care that parity1 is no longer present.