I just finished this a few minutes. Overall, better than I expected.
Regardless, I still think the way story modes work in fighting games have never been good. It's bad writing combined with taking good gameplay and putting it in the most unfun situations. And it seems we're kind of doomed to the format of cutscene -> fight -> cutscene unless they change up the gameplay (a la Tekken Force) but that is also bad because, ideally, the story mode would teach you how to play the game. I'm trying to recall a game that doesn't follow the format of movie, movie with fights, or beat-em-up that's also a fighting game but I'm coming up short.
What I did like was all unique opponents like the dolls, Shadaloo goons, etc. I kind of feel like that the money and effort spent on this mode would have been better used for more characters, stages, a standard arcade ladder, extra taunts, basically anything else but considering fighting games apparently need this mode from here on out I found it fine. A little underwhelming but overall fairly good.
Some of the story points didn't make sense. How did Cammy and Juri ride a motorcycle from Brazil to London? Why did Guile, whose storyline in SF4 was the search for Charlie, basically didn't give a shit when he found him (and also when he watched him die)? Seriously, I expected Guile to scream "BISOOOONNN!" and get a fight after that but Guile sort of walked off.
Also, Ryu had that Goku training while the weaker good guys plotline almost this entire game but he didn't really feel needed. Sure, he fought Bison but if all the World Warriors walked in Shadaloo HQ instead of hung outside I'm sure they could have taken him on.
Edit: For some reason I kept expecting a scene where Balrog is about to go out and whip some ass, sees all the World Warriors surrounded by the unconscious dolls, and immediately say "Fuck this, I quit."