It is. Gameplay is at least a smooth 60fps... they sacrificed everything graphical fidelity wise just to get it to run at that FPS so its on par with the other versions.
Also another thing I'll say... I have no idea how in the hell Tournaments are going to do this rule wise but while there are 5 Ability Presets, there are only 2 Default Variations created. If tournaments are going to allow usage of all 5 presets, they will have to create the other 3 variations FOR EVERY CHARACTER manually... unless there is something I'm missing somewhere as I clearly cannot find an obvious 'Tournament Mode' toggle switch like in Injustice 2, where it was blatantly obvious.
I'm still looking but if anyone else can work out where this silly toggle is let me know... One would like to think it should be absolutely blatantly in your face somewhere... There is actually a Tournament MODE itself which is separate from Local and Online modes, but in that mode you only have ONE DEFAULT VARIATION... If that is it, then I have nothing to say...