Single character Eliza for lulz Would probably feel like fighting a boss.
This is the direction that I was thinking about it as well. Obviously it's going to depend on what options open up for her with her blood specific moves but if they're good then fighting a solo Eliza may be a seriously scary endeavor. Ultradavid made the point that she may be one of the few characters you purposely pull OUT of the corner so she doesn't have access to her pools of blood in a single concentrated area. This is good though, I think characters that shift incentive to be used as a solo character versus a team and give clear advantages outside of damage to do so is a positive thing for the game overall.
On the flipside though Mike has said that Eliza may have a move that damages herself, pulling her own blood out on to the field at the cost of some health. Given the ability to use any grounded move in this game as an assist it seems to me that a utility assist like that would give a person a lot of incentive to use Eliza as an anchor character. I'm thinking an Eliza team setup like XX / XX / Eliza + Self Damage assist, when you get a free moment either during a combo or some point in neutral let her throw out some of her own blood on the field and heal back the damage while she's out of the field. And then as another factor in the match an opponent has to think to themselves what is the Risk / Reward of actually doing a soft punish on an Eliza assist given that A. They wouldn't be killing her and B. She's taking damage and thus throwing out even more blood on the field.
And this isn't even accounting for when Sekhmet is on the field, the rushdown component of the character. Alex has said that Sekhmet may not bleed when hit but will she be able to make use of any blood specific special moves? Will certain special moves require X amount of blood on the field? How much blood is used? Can she use any blood attack at any range or will it require that she be on top of some pools of blood in order to activate them?
Yeah ... this is actually starting to sound really daunting, the blood mechanic alone is enough to build a character off of without having to touch the intended dual mode aspect of the character. I can only imagine this working out if the Blood moves themselves only opened maybe some limited space control / projectile / super properties and keeping the focus of the character on the dichotomy between slow deliberate Eliza and the fast furious Sekhmet.
/9 month pre-release theory fighting for a character that has nothing finalized
About balancing Eliza, Mike Z could see some matchs of Carmine of Under Night IN-BIRTH.
http://www.youtube.com/watch?v=9bdATVi_AxA
As Eliza, he can use his puddles of blood to do attacks, but he is not affected about strenght if he has less/more energy.
He's already listed as a gameplay inspiration / motivation. The balance here is different though, Carmine is a character that has moves that deliberately lay down pools of blood that he then activates with other special moves and Eliza is a character who, I'm assuming, is going to get the majority of the blood she has access to from being attacked. It's the difference between a moveset that rewards offensive play with additional tools and one who rewards a person getting hit.