They should have at least kept talim, zasalamel and kilik in the game as their styles were unique and lots of people loved them. Especially I remember kilik having a ridiculous fan base for some reason.
Still, I'm going to get this game at my first opportunity. If nothing else, the much-improved character creation system saves this game. Have you guys seen all the stuff you can do now that you couldn't do in creation before?
And remember, yes they did remove styles but they also added styles (At least, the magician girl's style is new. Is there more?)
If you think Kilik has a ridiculous fan base, you should see Hwang. Hasn't appeared since Soulcalibur 1 and people still demand he returns in every new installment. Several even swore off Soulcalibur 5 when it was stated he wouldn't be appearing.
Anyway, yes they added a few new styles: Viola with a pure magic style (which is stupid by the way) Z.W.E.I. whom uses an arming sword and a werewolf summon (werewolf aspect being stupid) Dampierre with his twin hidden blades could be considered "new" though he appeared in Soulcalibur Broken Destiny.
The other "new" characters are more or less derivatives of other characters: Leixia - Xianghua, Natsu - Taki, Xiba - Kilik/Seong Mina, etc etc...
I'm just used to SC building off their previous rosters, like with the transition between 3 and 4. They added two new characters and no one was dropped... well, the custom styles were but they were extra bonuses for the new CAC mode so no one really missed them. (Save for people like me whom wanted to see them again but with more polish.)
I'm sure Project Soul made the best title they could given the relatively short time allowed to make the game. Quite frankly, I would have preferred this be a summer release to give them more time to include more of everything, but oh well.