Not as good as the third one
First of all, the gameplay really isn't that great. It takes away from the overall speed of the fights, and the new way of fighting can't be used to its full potential. You can fly around and hide behind stuff. That's it? That is the "amazing" new feature they added to the game? What a rip-off! You realy can't even do this, because if you try to hide from a comp on any difficulty harder than "very weak," they will practically find you instantly, and you will regret ever trying to do it in the first place. And free-roam flying is only good if the battlefield is bigger than your eyesight range. Anyway, on to the worse points of the game.
Okay, all of the characters in the entire game only have five moves! And they are ALL THE SAME!!! And you can't even transform in this game! Every transformation is a different character, and the strengths of these characters are not even represented well. Why does SSJ4 Gogeta have less ki than Mr. Satan? Why is he slower than Burter? This is so stupid. Basically, this game should have been completely rethought, and they took out about everything good from Budokai 3. Don't waste your money on this game...
The only things this game has good going for it is that there are a crapload of characters and it is a Dragonball Z fighting games, so you basically get to pick almost any character that has ever fought in DragonBall Z, and there are a few favorites, like Super 17, from DragonBall GT and DragonBall, and you get to make them fight. WOW!
Oh! And another thing! The hand-to-hand combat consist of only a string of about 4 to 9 hit punching combos that you can block, and then you can charge them or perform a stunning blow. That is about it.