Didn't notice it before, but you can really appreciate the animations when it's slowed down
Look at how every movement of the axe is weighty and how the hands twirl the weapon into the next attack and catch the downward momentum to swing into another blow. And then for the other attack, how Kratos is flipping the axe behind his back and catching it with his other hand.
I think that's part of what making the combat feel so heavy and forceful. By capturing the physical movement needed to pull off each strike, they can sell the weight and power of the attacks