It looks more playable than the other attempts at 2D fighters on the system namely Street Fighter 2. It was terrible on the C64. Fair play to the guys who did this, shows what can be done on the C64 with a little more time and care
A lot of the more recent indie C64 titles simply trounce the old games. The old games were probably okay for their time but, frankly, I find most pre-NES games to be entirely unplayable unless they are exceedingly simple single screen affairs (pong, galaga, etc.)
I’m sure being able to develop a game on modern hardware via emulation and then ensure it runs on original hardware helps. That and game design has come a long way in 40 years.
C64 has the best sound chip though
and is the reason I have two (have both variants.)