By default, EF-12: Creator's Edition only comes with a couple of scenes and a neutral fighter with which you can start fighting right away. You can apply different fighting styles to this fighter to see the results, though the best thing to do would be to create or download new models of fighters.
Making it even easier, EF-12: Creator's Edition is completely compatible with tools like Blender, Autodesk Maya or Autodesk 3DS Max. This allows you to create any character or scene that you want from zero.
You can create (or download) any character, add the basic or special moves that you want, and pick its sounds, the way it celebrates, everything about it. You just have to invest a little time in it and you can create your own, definitive Tekken, Soul Calibur or Dead or Alive.
EF-12: Creator's Edition might be interesting for both habitual players and for modders and creators. The former won't have to do anything more than download characters and add them to the game in order to start having fun, while the latter will have everything they need to create the definitive fighting game at their fingertips.
EF-12: Creator's Edition is free, but it relies on donations. You can make donations from the official website.