I don't like the Last Blade games. their characters lack charisma, and not because it's more "realistic", but because the overall fighting and design just lacks essence.
the Bushido Blade games are more realistic than Last Blade and Samurai Shodown series combined, and it has lots of charisma and more memorable character designs than Last Blade.
I think the overall game design from Last Blade is what really watered down the presence of its characters, they could be more interesting in Samurai Shodown universe.
Also, while Samurai Shodown is over top in parts, it developed into more perfect balance of realism and over the top expression.
Also since the very first Samurai Showdown, the developers aimed for more realistic side of the spectrum, especially with the fact they wanted to express the TERROR of fighting weapon to weapon, and that cannot be done making it simply Street Fighter with weapons. they had to up the damage, add blood, cutting people in half,
design the lore and kill or be killed survival nature to the fighting.
INTERVIEW of creators of Samurai Shodown
https://www.polygon.com/2017/4/10/15223966/the-making-of-samurai-shodown
Samurai Shodown really aims for more realism than most fighting games of its kind. Soul Edge/Calibur is practically Care Bears compared to Samurai Shodown series, and Samurai Shodown naturally got more violent and gorier as the series progressed. it wasn't until SSVI that the developers lost their way and made things too childish and lighthearted, so despite SSVI's mechanics and roster, it was all wasted with the betrayal of its original violent nature.
and since the very first SS, Mortal Kombat was always one of its inspirations, so just like other ultra violent games like Eternal Champions, blood and gore are a natural part of Samurai Shodown style, which adds more to its realism and raw fight to the death aspects, instead of some spineless prize fighter sport.
just play Samurai Shodown 1 and see the things said, the atmosphere feel, and the fighting expressed, it's really the most realistic fighting game of its time, generations before Bushido Blade entered the picture and took things further. and Samurai Shodown V Special uncensored is the perfect blend of realism and over the the top flashiness, a great balance that makes it more raw and hardcore while being more entertaining than "ultrarealistic" fighting.
well of course there are greater balance Samurai Shodown can pursue (a Bushido Blade style Samurai Shodown would be very interesting, but yea I know that's outside what conservative fans would be interested in, if SNK makes a Samurai Shodown 7, it's likely 2.5D, with maybe SSVSpecial's blood and gory finishers and mechanics).