I wish there was more to it.
There's fight mode, Basket Ball Mode, Volley Ball Mode, and "SMASH THE TARGETS" mode. A couple of other things here and there, but it all feels the same. There are only as many stages as fighters, and you have to buy the backstory, which is interesting.
It has potential to be a good game.
It's comparable to Punch Out in the sense that there's punching. However, I found Punch Out (Wii) to be more hooking and enjoyable.