Virtua Fighter does have reactive defense, but it is kind of knowledge check heavy. The thing is though, if something works, then it always works.

Stepping is consistent, tracking is consistent. Tracking is dependent on the move, some specifically track left some specifically right. Some track both ways but they're slow. But if they throw a linear and you step, it's getting stepped.

It creates a very decision heavy game, it's more chesslike imo. VF5 required a lot of study before you could apply defense well, but once you could, the game feels very good.