I'd like to provide a competing view: I think Virtua Fighter looks and feels great to the aesthetic eye and feedback senses of a great many players--and in my case at least, I think it is attributable to being someone who has trained in actual martial arts. I'm not trying to throwdown the purist card here, but without question, of all the major 3D fighters I have sampled (and that's all of them in existence at some time or another, I think), the style, the range of movement, and the simulated biomechanics and force of the characters as virtual bodies in motion is closest to being rooted in reality for Virtua Fighter. Mind you, it's not super realistic by any means, but leaps and bounds closer than a Tekken, Soulcalibur, or DOA.
The same is true of other aspects of it's artistic design, including character, stage design, and visual effects. Probably it does err* on the side of being a little too minimalist and unobtrusive. But if it wasn't perfect in that regard, I think it all still worked exceedingly well as a total package, and Virtua Fighter was always did have a more nuts and bolts obsessed fanbase.
But even if I disagree as to the assessment of the quality of the visual design, there could be something to Aries' argument insofar as a casual players/blue ocean consumers can probably be fairly described as being attracted to flash. I don't know that we can ever truly know, beyond pretty subjective speculation, all these years on, how much VF's plain jane visuals affected its bottom line, but for those going further to pronounce that it fell into torpor and possible permanent franchise death because of its innate qualities, I think you need to widen your examination of relevant facts. Virtua Fighter died first and foremost because it was a Sega property, and Sega is now a tiny player relative to what it once was when it comes to the console software market, with a comporably immense portfolio of IP licenses, most of which do not get utilized anymore, with games made by internal studios and teams which are now largely defunct or severely diminished in output capacity. Soulcalibur on the other hand, is owned by a holding of Bandai Namco Group, one of the largest players in gaming in the world, with a massive publishing arm in Bandai Namco Entertainment.
This is why I always laughed whenever someone would say "SCV has killed the franchise!" Or, in its more contemporary form "SCV almost killed the franchise!" LOL, no: at most it delayed the next game a little. SC has long been in a development cycle that ebbs and flows relative to Tekken's and going back even further than that, every single Soulcalibur game has taken a little longer than the one before it to finish: after 25 years, I don't know why (other than rationalized enthusiasm and overly-rosey hopes) anyone is ever surprised when that doesn't change, especially as production times in the industry at large continue on an upward trend.
Anyway, is Virtua Fighter out for the count? I hope not, I really do; I occasionally go on a mission to scour industry media for any major changes to the companies that now seem to own the relevant IP and inherited the relevant teams and talent, such as they still remain with Sega (not much of it, alas). But to compare it being unpaltable and/or label its fate as justified and born solely on its strenghts or appeal is not really an accurate description of what happened to it, regardless. And I think it would still have a loyal fanbase today had it been in the hands of a thriving developer during the last decade.
* Did err, I guess we can say; even I, a huge fan of the franchise, am about ready to give up the ghost on a return.