It's very similar to DMC though puts a greater emphasis on dodge and unbroken mobility. I prefer Bayo. It's legit my favourite character action game ever.
In the past few months I've went on a character action binge and I'm not sure I agree with that assessment on what makes Bayo different. You're not wrong, since mobility and dodging is made much easier in Bayonetta for a reason, but I find that both games have a pretty high emphasis on mobility; in DMC3 and 4, knowing when to re-position yourself in a fight and both neutral-jumping and dodge-rolling on audio cues are positively
clutch when it comes to getting decent grades on boss fights and surviving higher-difficulty battles, since it allows you to keep your damage output coming. While you don't have a manual dodge and mobility forms like you do in Bayo, not keeping yourself moving will get you flattened.
To me, the biggest difference between DMC and Bayo is the flow of offense. In DMC games, it's all about weaving very specific combo-strings together in a way that keeps crowds of enemies at bay while being able to focus on taking down a single target quickly without breaking your stream of attack for as long as you're able. It's why weapon-switching is such an important skill; it keeps your grade climbing while allowing you to quickly adapt to any situation and keep your attacks going. The same principle applies to Nero's Exceed and Buster: Exceed increases damage and modifies an attack's properties while the Buster provides additional flexibility in the form of Snatch (which isolates single enemies) and Dunk (a powerful single-target attack that also has crowd control properties).
In Bayo, it's more about stretching out individual combos and being able to finish them with a giant wicked weave. The real damage and regeneration of your primary offensive resource (magic) from most weapons comes from when you hold down an attack button and fire off your weapon after that initial hit. Wicked weaves not only deal a ton of damage, but also send multiple enemies reeling. Being able to stretch out and finish individual combos is the entire reason why mastering Dodge Offset (or being able to continue a combo string after dodging or morphing into a panther and running away) is so important and why Witch Time lasts an age. If you're trying to mash it out like DMC while playing Bayonetta, you're not doing it right.
For the record, I also prefer Bayonetta over DMC.
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