I think that video highlights the worst of it. There's been entire matches where Poongko just hit jab and then confirmed into a combo any time it hit. But there's also been a fair amount of matches where there was other stuff going on. I watched some of the Shadowloo Showdown SFxT matches and there was some interesting stuff there.
I think someone notable was saying that standing jabs are so good because they start up quickly and they're various amounts of plus frames on block. It sounds like a balance issue they could address with a patch or with the next version if one ever happens.
SFxT has some problems but pretty much every Capcom fighting game that started a series hasn't been the best. The early entries in the SF2, 3, Alpha, MvC, and CvS series' weren't that good and it wasn't until later iterations when they got figured out and people played them for 10+ years. So maybe they'll make a Super SFxT and fix the complaints people have.
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http://www.youtube.com/watch?v=npHDxSvwCE0