An interview at Train2Game with SoulCalibur V producer Daishi Odashima divulges that the story mode shipped with the game was only a fourth of what the dev team had planned:
“Our first plan on the storyboard was that we had every characters story, and actually we do have it in the studio, but time-wise, man power-wise we weren’t able to do it and only one fourth of what we planned to do is in the game.”
Instead, we got the anemic story mode that focused only on new characters Patroklos and Pyrhha. Other characters — some of them established SoulCalibur characters like Siegfried — popped up but little context was given as to what their own personal stories.
Odashima also revealed that many of the characters already have voicework recorded and it may be used for future content down the line. However, if Namco winds up releasing additional story mode content for individual characters as paid DLC, that may just set off fan outrage like they’ve never seen before.