I agree. They really made a big deal about promoting this version of the game as having virtually lag-free input. It's appalling to find out that there's more lag in this version.
I wonder if there was some point during the game's development where the game really did have much less lag than other versions, and that the lag was introduced very late in the development schedule. It's likely this really was a design goal, but something screwed it up and they rushed it out the door anyway.
Sony needs to ensure this is remedied quickly, especially since they are heavily sponsoring major fighting game events like EVO. It would be a total embarrassment for Sony if event organizers are forced to bypass the PS4 in favor of a competitor's last-generation system due to performance issues.