There would be no harm in directly electing such a person, and it would be good to prevent the government of the day using its majority to elect a president who just rubber-stamps whatever they want.
The advantage of having a directly elected president, is that they can act as a check and balance against a government which concentrates executive and legislative power into the hands of one party and effectively one person, the Prime Minister.
By limiting the president's powers to just vetoing legislation and resolving confidence/dismissal issues, these levers of power would be available for use, sparingly, and in a democratically accountable way. In return, parliament would have the ability to impeach the president or call a new presidential election. This would prevent the president from interfering unduly in the day-to-day running of the country.