A very simplified, non-serious version Tekken utilizing a "free 2 play" business model and avatar leveling mechanics in order to lure new players to the franchise. This is not a competitive title, not meant to be a "Tekken 7" and is not meant to replace the main game which is still Tekken Tag 2.
What are the game modes?
Currently, only arcade mode, online player match and online ranked match. There are no offline versus mode and training mode! You can sort of have a really ghetto training mode by searching for impossible ranked match criteria and letting the game pit you against an AI with regenerating health while you wait for a ranked match that will never come.
8 default characters plus 4 which you unlock in a random order by getting gift points at 1000, 7000, 30000, 60000 respectively. (I have 16000 and I still haven't unlocked the 3rd character)
Kazuya, King, Paul, Law, Asuka, Lili, Lars, Jack + Leo, Steve, Alisa, Bryan.
Is the netcode good?
Yes, much like TTT2.
What's the F2P catch?
You have tokens that regenerate *slowly* over time and allow you to play arcade or online matches. The slow regeneration rate is meant ti piss you off enough to buy gold tokens with real money. (Don't do this, just buy TTT2.)
Once in a while you get a premium ticket, which allows you to play when you run out of coins. The best part about it is that if you used it to play an online match and you won, you get it back. So as long as you win, you can keep playing.
Does the game play differently from previous installments?
Yes. This is basically TTT2 without the 2nd character, without bound moves (excluding low parry and floor breaks) and possibly some more small changes which need to be tested further. Other than that the characters seem to be replicas of their TTT2 iterations.
To encourage the noobs to play, several key moves of every character now have unique properties, and show a colored flash when performed. The select screen only shows 3 moves, but there are more, which you can see if you pause during arcade mode and open the movelist.
The first one is "critical art"- a move that has a chance to inflict extra damage. The second is "special art", a move that has a window of invincibility during its startup frames. I think that all the moves that have the special art property can be punished by a launcher when block, so use them wisely, and punish well when you block one yourself.
By playing the game and earning gold and levels, you can upgrade character stats. Power, Health and Luck. Luck is determined by the gap between you and the opponent and it affects the chance of getting those random damage boosts from critical strikes, and the chance to activate rage sooner than usual. If you lose 3 times in a row, your luck stat will increase, and will stay that way until you score a victory.
Can I respec the points I have spent to get them back?
What's the best way to unlock characters and gain gold/exp?
Winning online. A full arcade run brings you roughly half gold/exp and 1/10 of what a single online player match can grant you. But ranked is the best way.
This game is actually very fun... but I'm not fond of the cooldowns to keep playing, the grinding and the luck based damage.
Then move over to the real deal which is TTT2.
Is this really all the content of the game?
Harada said on Twitter they'll update with more characters and probably practice mode.