I actually really like the gameplay of Arena. I just think it's a poor attempt at universe expansion by trying to clumsily fit itself into canon and warping the only real outlet the P3 characters have in the future of the series.
It's a fine fighting game but a poor expansion and exploration of the established setting and characters. I think it would have been better off as a story-less crossover fighter.
Yeah, I am. However, I have very little faith that they'll pull it off at this point. Like someone else mentioned earlier, maybe the increased scope of the story, like introducing the Shadow characters, will prevent it from being totally chaotic.