I highly doubt that fight money system was a major factor. The rocky launch, server issues and low content were the defining factors on why people passed on SFV. The roster count would've been scrutinized either way because either more than 44 characters had to come out the gate initially or be deemed "worst SF game ever."
I don't think you can divorce the fight money system from the amount of content and what design decisions were made. When the whole package is designed around it, the end result is going to be some function of it. Sure, there were the other issues you mention, but they are all tied together. Don't forget the issues and delays with getting the FM system implemented, scrapping the zenny stuff and not having the promised daily challenges. (which forced people to play the survival mode since there was no arcade mode). It was a big mess of interrelated stuff, and the FM system was an element of it.