From ESRB:
This is a fighting game in which players engage in one-on-one combat with a large cast of human characters. Players mostly punch, kick, and use special attacks (e.g., fireballs, flying attacks, electrical strikes) to deplete opponents' life meters. Some characters use weapons such as claws and chains; some special moves are depicted in brief cutscenes with slow-motion, dramatic close-ups and opponent reaction shots.
Combat is highlighted by cries of pain and frequent impact sounds. Several female characters are depicted in low-cut, form-fitting outfits that display large amounts of cleavage and/or buttocks. Female characters' breasts sometimes jiggle during character selection. The words a*s and bastard appear in the dialogue.
I knew this wasn't a bug all along!