I mean, this is a tough question.
Because what people value in a 3d fighting game can be very different.
M&B is a totally different beast than Shadow of Mordwar, which is totally different than the Dark Souls 3 experience.
PvE in this context is also a totally different experience than PvP.
It's not an unanswerable question I think but it needs more context.
For PvE, I'd have to say the Dark Souls series. Even though their controls are not fluid, or graceful....when the latency is right, it can be both of those things. The hitboxes of weapons and such actually matter, and sometimes you'll get a hit or a parry that you can't believe you got because the stars were right. Or you fail to dodge a massive attack that still missed you simply due to where your hitbox was at the time. When it works, the space you do or don't occupy in the Dark Souls games feel like it really matters.
M&B is satisfying to just lay in to a crowd of guys but it has even less finesse than Dark Souls.
By contrast Shadow of Mordwar/Assassin's Creed/Batman games, while the combat is enjoyable, feels like it's on rails. Any game with a "press a button when you see the prompt to counter" mechanic automatically feels more restrictive. The pay off is the fluidity and flow of combat, the unbroken drumbeat of asskicking you get to hand out because you barely need to pay attention to where you're swinging or what you're swinging at, just aim yourself in the general direction of an enemy and hit a button, the game will take care of the rest. The cost is sacrificing some of the utility and freedom of movement and actually feeling responsible for anything except timing and some general decision making about different attacks. And when they bring in "special" enemies, you really start feeling the lack of options. Those kind of games eventually boil down to "you have one or two things you can do to win, everything else has been deliberately made useless." While I enjoy.....can we just call them QTE Fighting games?
.....these kinds of games, I'd never stack them up to anything that asks more of the player.