I don't think that's the case because a few character who could in do can always be overcome by simple labbing, counter picking & using the game mechanics. That has been always been the case since double dragon in the arcades.
I honestly don't think balance means much to make a game fun though. It' does matter most to make a game fair though which most fg games are full of really stupid gimicks and braindead things to make games look, feel & play way more unblanced then it already is.
Yeah, it’s subjective. I think Tekken 7 is pretty balanced and I love that game. There’s a bunch of other games that I really enjoy like MvC2 and 3rd Strike that I wouldn’t call balanced. Balanced games can be fun, but so can games that are lacking balance.
I think it's an overrated term, I mean you don't want a game that's so unbalanced to the point of it being a unplayable but you don't want want a perfectly balanced game either as it would be dull, not interesting. MVC2 for example is super broken, glitchy has infinites etc but a fun game. The 3D MK's aren't exactly the most balanced but are also fun games that had a fanbase(not nearly as many as 2D MK however).