It's a ghost axe, is her reasoning. What's the worst damage it can do, tickle her? (Shh, don't break it to her yet.)

Aside from that, the idea of some spirit from a different world accusing her of not being courageous, or chivalrous, or brave enough - even the notion!

"Yes, well, I'm not retreating, am I?" she addresses Valour. (If Ron or Harry could see her right now, they'd describe her hissy expression as Peak Hermione.) "I am simply choosing to keep walking by and not engaging in very pointless swordfighting. And in the name of chivalry, good day to you, serah."

She looks to Cedric. "Did I get that right? The serah bit?"