Also think Valkyrie Profile. Characters attack in real time, but you need to time the button presses correctly or some attacks might whiff and you won't get max damage output. In addition there are supporting characters you can "equip" to each squad, as well as support attacks that can be enabled when another squad is in any of the 8 spaces around your currently attacking team.
Your enjoyment of the game hinges completely on whether or not you find this time of battle system fun, and whether or not you'll end up hating it because of the repetition. On the other hand, there is a HUGE cast of characters with varying abilities so people who like "press button to AWESOME" will like it a lot, since there are tons of combinations that work well. There's also brand recognition: there are characters from all of Namco, Capcom, and Sega's most well-known (and some not - this game has God Eater Burst and Resonance of Fate characters) franchises, as well as characters from Super Robot Wars like Sanger, and watching these characters interact is really fun and amusing.
The game also treats itself very lightheartedly, almost every scene is very tongue in cheek and hammy, it's like the writers are nudging us with their elbows from beyond our 3DSs. The developers knows who their audience is and they play to their strengths in that regard. It's a real fun time, and even if you stop halfway through that's still at least 10 to 20 hours of pretty quality fun for $40.
Honestly, I recommend it for anyone who just wants to turn off their brain and watch awesome stuff happen. Which should be everyone, at least some of the time.