I was just reading the hands on preview Gamespot has of DOAU, and I must say it sounds impresive. The online mode lets you select up to 8 people and rotate maches, simalar to a tournement, but the other people who aren't currently playing get to watch the match. Simalar to recreating an arcade experience. Also players watching a match and not participating in it can manipulate the camera for there view, and zoom in or out or rotate the camera. The whole article can be seen
here. All in all This new feture for trying to recreate an arcade experince sound really cool, especially for fighting game. Hompfull MK:D will have something simlar, but honestly I don't think they will.