Sounds kinda boring. This is why I stopped watching DBZ (How much will they scream and hover in place this episode?), I certainly wouldn't want to play it.
It depends. In a 1v1v1 game, two people are generally focused on killing each other. That leaves the 3rd person a few choices. They can power up until someone notices them or they can mix it up with the other two and try to pick them off, which sometimes backfires and you get caught in the middle. 1v1v1v1 can end up even more chaotic. It's hard to stay completely out of the line of fire because players auto lock to the closest target, so sometimes a person dodging way the hell out of combat ends up in your vicinity, usually forcing you to react. It's also about how many kills you set for the round. At 7 kills, it generally turns into an orgy of fragging and OP attacks and the match loses its sense of who is really winning it. At 3 kills, there is not nearly as much time to screw around so if you want an actual, technical game with less spam, you set fewer kills.
I think when everyone knows pretty much what they're doing (how to get out of trouble quickly, which attacks do what, how to block attacks, how to manage power level) the multiplayer is quite good. Competition level? Not really. But it's easily on the level of Super Smash Brothers.
Personally what LBZ needed to do was decrease the power not increase it and to make it more flighty then like some weird third person shooter.
It's different than what's been offered up for DBZ by others, that's why I like it. All the other games have had to dial down the power levels and effects because it didn't make sense for a 3rd person fighting game or w/e. I don't really get your complaint, especially since the whole power scale is something you can set per match. You need to do more flying but less shooting to make it good?