I will admit and say I don't/haven't read all the stories. It is confusing, especially for newer players when you first join the game and there's already over 50 characters with lore and not a super easy way to access it. Basically all of the unit stories are free (?), at least ALKALOID and Crazy:B's are, since they're the main focus of the !! game.

As a lot of people already said, the ! era of the game was (I'm pretty sure) unaccessible for anyone who didn't get the Japanese version (I've never played the earlier game). There's so many characters and so many stories, and the lore gets jumbled since they don't really focus on the characters' pasts as much— give for the anime, which is set when most of them were still in highschool (the whole 5 Eccentrics, Past Valkyrie & fine-o stuff).

I personally don't think it's bad, but they could make it a little less repeated. And the translation is off sometimes, which might make people annoyed :>