To me it looks very limited. Fish for a hit, combo to launcher, perform the same combo as last time, fish for another hit.
I know this is a *very* simplistic view of what is going on, but this is really what I am seeing and I find it boring. Characters just don't seem to have many options in this game compared to a marvel or even SF4 where they seemed more rounded and diverse. All the moves just seem much the same no matter who is being played. That may seem like a strange statement, but the tactics of the characters who are actually being played all are pretty much the same or are repeats from SF4 with fewer options.
I feel like I have seen it all already, especially for the 'top characters'. When the same match up happens, I'm not looking forward to seeing something new.
This may all change as people work out the game or I get better at knowing what is going on. But it all seems like even if it does grow on me, it will still be very subtle which doesn't translate well to watching or excitement.