It's super cheesy and over-the-top like any Street Fighter game and/or movie. Which is a good thing. The whole thing was fun and you never know who you are going to fight next. And this is another big plus... because many of the fights are against NPCs, so you'll fight random grunts, Dolls, police officers, etc in stages not in the game. If you are outside the Shadaloo base and have to fight... it's suddenly a stage. Capcom didn't cheap out and just transport you to an already existing locale. And several of the NPCs have unique movesets, one in particular has one so specific that it may foreshadow her being DLC next year.
Then there were the surprise cameos. I probably would have gotten more out of the story mode if I knew anything at all about Street Fighter 3, but since I've never played that game, many of the cameos were lost on me. I recognized several of them, but that's about it. These could also foreshadow Season 2 DLC. And if you didn't know, the timeline goes, SF1, 2, 4, 5, 3. So this story bridges the gap between 4 (which I played, but not a ton) and 3 (which I never played at all).
You will cycle through every character in the game, fighting with them at least once and usually against them too, which means you get to use the villains throughout. After playing as Balrog, I went and bought his character. It's a great way to test out people you might not usually play as.
The difficulty begins at laughable, but really ramps up to insane at the end, particularly the final 4 fights. And because you have to use every character at least once, I'm not sure how I'm going to beat this on hard mode. I had a rough time with Dhalsim's section during "laughable" and I can't use Zangief or Alex to save my life. Even then, I didn't lose a match until the final 4. And thankfully there is zero loading if you have to replay a bout.
Speaking of loading... My 2 biggest negatives though, are the loading times and how some characters were utilized. The loading times were atrocious. Sometimes it would go cut scene, loading screen, cut scene, loading screen, cut scene, loading screen, fight. That got really annoying in 2 parts in particular that I can remember. Why so much loading?
The other gripe is that my favorite characters, Guile and Chun Li, were glorified jobbers. They were playable exactly once each even though they had big roles in the story—but you beat them up several times. Characters like Karin and Rashid are used multiple times, so if you main them, you'll really enjoy their involvement. But the biggest kick to the sack was Necalli and Nash. What they did to those 2 characters, after so much build up, is virtually inexcusable. Necalli should have been Lash (from Agents of Shield), instead he was Glass Joe. And Nash... (insert defeated sigh here). I actually began to like some of the other characters more because of how they were handled, like Juri, Karin and Rashid. So, depending on who you main, you will get vastly different experiences with the story itself. Some will love it because their character was awesome, funny and had a major impact and some will be disappointed because Guile got beaten down like a red-haired stepchild. Or government mule if you are a WWF fan.
I actually can't wait to play it again on the harder difficulty.
Overall: 8/10 for most of us; 3/10 for @Threctory