I have similar feelings about Horizon's melee combat. It's too limited and simplistic. Having played Breath of the Wild before Horizon, the former's melee combat feels more fulfilling. BOTW only dedicates one button for melee attacks compared to two buttons in Horizon. However, you can use a wide array of weapons in the former. You have the 1-handed swords, 2-handed swords, spears, clubs, and wands. Some of the weapons are elemental which can be very advantageous such as using an electric spear to stun a guardian.
I would like the sequel to mix the melee combat around. Maybe introduce different types of spears. Have one made for taking out components more easily. Maybe have a spear that deals little damage per hit, but gives more attack speed and strings more hits per combo and have another deal more damage at the cost of attack speed and combo potential.