Probably, but there is always Quarter match mode which sounds pretty cool-

Game Features:
All new 1080p high-definition art for Street Fighter characters and backgrounds created by Udon Entertainment, creators of the Street Fighter comic books
Features all 17 of the original Super Street Fighter® II Turbo characters including Ryu, Guile, M. Bison, and Akuma
New optional "Rebalanced" Mode: massive changes across the board to all Street Fighter characters as created and tested by some the world's top-ranked professional Street Fighter players
One to two player head-to-head play either offline or online
Single player vs. CPU
Player vs. player over the same console
Player vs. player online
Training mode helps fighters hone their skills
Improved network code for the best possible online fighting game experience

Numerous online features:
In-game voice chatting between players
Matchmaking flexibility through multiple options
Personal and friends statistics tracking
Quarter Match Mode- this spectator-based system allows online competitors (two competitors and up to four spectators) to use a "virtual quarter" to "buy into" heated two player matches
Comprehensive worldwide rankings and leader boards by character - tracks overall wins and losses, number of throws, perfects, highest combos and more
Widescreen support with option to select classic 4:3 mode for SF purists
Choose from either classic Super Street Fighter II Turbo music or optional newly remixed tunes created by OverClocked Remix
Option to play as the original Super Street Fighter II Turbo 2D sprites for traditionalists