What I dislike Vajra is how much it gives you for so very little effort. I'm generally in favor of increasing skill requirements in this game. Vajra gives characters like Wesker a huge benefit for almost no cost, and the rewards are just too great. If you compare it to my Dormammu example above, yeah, I can delay while building 5 bars, but do you know how goddamn hard I'm working for that? I'm playing an assist-less game and have to be on the tip of my toes every second. I would much prefer a game where we have strong combinations built off of fast thinking and reflexes than tridash H spam, teleport Vajra, beam teleports, etc.
If the screen stayed zoomed out, and Strider said something while teleporting, I would be much less irritated by Vajra. One of the things that people rarely say about Dormammu that I think help keeps him balanced is that "BEWARE!" every time he teleports. If Dante and Vergil said something while teleporting, I'd be less inclined to be annoyed by them. Wesker and Phoenix say their line after the teleport, so it doesn't help - haha.