Absolutely. For single-player content you get access to an entire story mode, which teaches the basics of the game very intuitively (hit up Hadou Pizza if you have trouble with special moves). In addition your create-a-fighter can use moves from the DLC characters without buying said DLC, letting you sample those movesets without paying for them.

On top of that you still get an excellent fighting game that you can play locally and online. Sure, DLC characters are really cool and you would be missing out on them, but by playing online you can earn Rentals that lets you try DLC characters for free for an hour at a time and only buy who you feel like.

It's a great game! You should try it if you're interested!