Aside from Karate champ. I was thinking that there has yet to be a perfectly balanced fighting game, where there isn’t a god-tier character that rapes everyone, or a garbage character that people use either for the lolz or because they like a challenge.
I can’t think of a single game. In Super Turbo you have O. Sagat and O.Ken that are godly, aside from those two the game is relatively balanced (resulting in a lot of counter-picking). Then there’s Garou which comes pretty close but Kevin and Jenet’s block strings put them in god-tier status, and when Kevin has super ready he can touch of death you, or get like 80% damage or something pretty easily. In 3rd Strike Chun and Yun’s SA3 break the game. KOF 98 and 98 UM might just come the closest, no one is truly god tier, then again that’s debatable, some would say Iori or Krause or S tier, and others would disagree.
Then there’s Marvel VS Capcom 2 which the black people tell me is really balanced, I’ve never gone to tournaments because I’m afraid of getting mugged and being called a vanilla face, but the black people on the internet have assured me that’s balanced.