I'm gonna avoid the obvious digs and go with something most probably haven't thought of: Marvel vs Capcom 3.
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Story - The developers were basically blowing themselves over the "fact" that the game was to feature a prominent and cohesive story written by some of the Marvel's top writers. Not only was it non-existent, you actually have to buy the CE that came with a mini-comic in order to understand anything, and it still doesn't make sense.
Characters - I'm not knocking the cast list too much (Trish and MODOK? really?), but there are more than a few forgotten heroes on both sides that would've been welcome additions to the cast (well... I definitely would've liked to see Blade, Luke Cage, Gene, and maybe even the return of Hayato Kanzaki and Ruby Heart).
Gameplay - Don't get me started on this one. Long and short there are too many things about the game engine that don't make sense, from forced recoveries to the immediate lack thereof to X-Factor mode. A lot of bizarre and outright bad decisions on Capcom's part.
Music - This is pretty polarizing. To make things easy, I'll simply say that if you liked the music from the SF4 series, you'll probably enjoy the remixes and original tracks featured. Otherwise... grab yourself a personal playlist, preferably of the character's original themes (Ryu's being one of the worst).
Graphics - This is my biggest gripe, although it's also probably the most superficial. Another thing that was heralded was the lack of simple "palette swaps" when it came to characters, and that each character was getting new outfits based on how they appeared throughout the respective universes. While for some characters simple alternate color palettes couldn't really be helped (i.e. most of the Capcom characters), for some others there's really no excuse (i.e. Storm, Dante, Wolverine). Considering that Capcom went from 2d sprites to 3d models, this just shows a lack of trying.
All in all, it's a good game as is, but there are many things keeping the game from being great.