I with they actually balanced the game more but in a different sense. All they really did was even everyone out, which by definition is balancing the game, but makes for a "boring" game IMO. What they should of done is bring down the damage for some characters, slowed some down, added health to some, and took away health for others.
For example:
Thunder is the grappler of the game, he should have a bigger health bar, do more damage, but should be less mobile (slower) and have less reach. Instead he does just as much damage and everyone else, is just as mobile as everyone else, and basically now (with the edition of the new move) has the tools to be all over the place. His instinct would also make more sense if they did this.
KI is essentially "pick what special moves you like". Everyone's damage output and health bar is the same.
Characters like Sadira should do 30% damage MAX since it's so easy to start a combo with her.
Air breakers are ok but they should of made an animation for it instead of using and existing one. It just looks odd.