It's not a competetive fighting game. More in the lines of the DBZ Budokai/Tenkaichi games or the Naruto Ultimate Ninja games.
Competitive=/= Well made though.
Naruto Ultimate Ninja/Narutimate Hero/Accel wasn't meant to be competitive either but it had enough depth that if you wanted, you could play it on a semi-competitive level. My fear is that this game is yet another lazy CC2 game where characters are poorly designed and pretty cutscenes are put in to distract us.
I like that games that don't get boring after the initial flare wears off and ASB seems like that kind of game IMO.