Oh no doubt. In fact I find all of the SF games fantastic for different reasons. SFV is the one I vibe with the most, but each game is so different there's something for everyone in that series.
The same could be said of many fighting games, but some take a little while to switch over (like Tekken, but then again they have more games full stop).
So then, fireballs aren't useful in a normal footies kinda way but for other options like mixups and shit? I watched coop cup, and it didn't seem like dudes were doing full screen or midscreen fireballs for that reason. In that case, would the application of the fireball be not traditional then? ST's zoning game is waaaay different than SF3 in that regard. SF4 had a pretty good footies game with fireballs though.
My point was more or less each game has different uses for fireballs in conjunction with their systems, and I don't disagree with you that SFV's fireballs aren't as powerful as SF4's, I feel like that's because they are pretty situational per character instead of being a more universal tool. Birdie uses his for setups, Laura for mixups, Akuma uses that shit for added damage in combos and building stun the farther you are on screen (and I think his air fireball is used for throw mixups and shit? I'll find the vid but there were some decent applications in that), etc.
Or at least that's how it all makes sense to me considering most characters aren't using their shit to play outright footies but use it for other things unlike previous entries.