Now that I think about it, TNT was licensed for commercial sale by id. Whereas this is free. Still, like you said, it smacks of laziness. Then again Capcom haven't really shown a great deal of care for the Megaman series in recent times, so it's sort of to be expected.
Capcom of Japan gave Capcom of America nothing to work with this year for Mega Man's anniversary, so Capcom of America said "we're gonna pay this fan to make a game for us and we're gonna release it for free." It might be lazy, but considering Capcom of Japan (who primarily handles Mega Man) was willing to do even less (and Xover), it's pretty cool.
Moo on Altered Beast:
If I remember rightly, didnt it take the guys balls away at the end of every level? I think thats reason enough for it to be scary.
So yeah this is fairly [censored]. Beaten Chun-Li and Ryu's stages, and they're both atrociously designed - it isn't clear where you can and cannot go, and the layout and enemy placement are just plonked wherever. You can tell it's a fangame.
There are some fun touches though. I especially like Chun-Li's lightning kick, just to see Mega Man flip out and kick the [censored] out of something.
Edit: I'm not sure, but I think Dhalsim might just have an unavoidable attack. Will hold off saying for definite for now, but I have tried numerous times and have been unable to avoid his fire barrage, and cannot shoot it down quick enough.
Something tells me an STC-O game mod/level edit revival might be in order, looking at this and harking back to the SMBX thread. The number of times I've played fangames or levels with [censored] enemy placement is staggering. It's not even a design decision, they just sometimes have no idea and place them about willy-nilly.
There are three things I try to live by:
1) Never tell a bride the day before her wedding day that "there is a problem"
2) Nothing good happens after 2AM - just go to bed.