I felt the same thing too, should have just been called Persona Arena.
Yeah, I'd hope that if a follow up installment is done, it should drop the Persona 4 number from the title. We'll most likely get more P1/P3/potential P5 characters anyhow in the roaster.
I'll agree. For the most part, the Investigation Team seemed like they're just there, except for the end game whammy like you mentioned. I really can't put it any better myself.
Granted, I am going from the standpoint of the 4 main story scenarios, Investigation Team/Shadow Operatives/Labrys/Elizabeth, I've only done the first three. I still need to do Elizabeth's story mode, but I already know how that ends. If anything, I feel that one helps set up for the next installment possibly more than the whole "the big bad knows us" thing at the end of the Shadow Operatives/Investigation Team.
If anything, Elizabeth's story mode is further proof that the story is more P3 related than P4, as it spoils the ending to Persona 3 AND all of Persona 3 FES's The Answer.
Oh hey, new page, and Buddha surpassed me on postcount, jeez...