That is not a poor training mode. You can record more actions at once than in the previous games, and there is nothing major that i feel is missing. There isn't frame data or hit boxes but that is by no means a standard, I would call smash 4's training mode poor because you can't make health recover after a combo.
Also 16 is more than enough character for a competent fighting game. Each one feels completely different including Ken and Ryu and I can't think of a single archetype that is ignored, except maybe turtle but Balrog, and Guile are coming.
In five hours of play i have enough FM for 2 characters, and they have said that daily challenges will become the main source of FM later on, plus the higher leagues will reward more FM per win apparently.
This not an early access game, I have not run into anything game breaking and there is not anything integral to the main game play missing. The serves as of last night 12am est have worked great for me, and the game play is extremely polished. DLC characters aren't new to fighting games, and an option to not pay is always better than none, and 6 dollars is not a bad price at all.
The only legit complaint I have seen is the Mad Catz stick, or any fight stick I think, not being supported officially on PC. That's some bullshit, but even that will probably get fixed.
I get waiting before there is more content, or a sale to buy a game but this is hyperbolic, and as a side note a lot of early access games are put an early access at there launch price or more this ain't new.