I think it's deeper than Smash and completely viable at the competitive level, but I worry that between its lower sales numbers compared to bigger games like Smash, and the complete disrespect the game gets from the hardcore fighting game community, that it's going to be mainly a fringe game at the tournament level, if it ever really achieves that status at all.
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It feels as if although there is a pretty good combo system in the game, it doesn't seem fair whenever anyone (including myself) combos into a super that will kill no matter what. That's pretty much my only complaint.
Yea sure it will be harder to score, but it's not so much a mind game if you get hit by a normal attack that's much harder to see coming and in the end get killed without any way out of it. Even if you know how they can start the combo, doesn't mean you can dodge every single one of those attempts.
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Being a Smash fan, I never found it particularly deep at all. Since those days i have played more competitive fighters like mvc3, MK, and SF, and now looking back at the Smash series I find it even less deep than I used to think.