No, it doesn't just have multiplayer and the little story mode. It has survival mode, in four different degrees of difficulty per character, with a unique mechanic. There's no automatic healing per character, but after each bout, a random selection of purchasable buffs pop up, including one healing item, which you use your current score to pay for. Surviving to the end (10, 30, 50, or 100 rounds) is the ultimate goal, but even if you want to just end up with 0 score and keep your health maxed up from battle to battle, you typically earn around 9k per fight and a full hp recovery runs for 25k, so the idea is using smaller buff purchases to keep your health bar going as long as possible before needing the heal, and gambling on how much damage you'll take in the next run and whether a strong heal will be up for purchase afterward.
Also it DOES have offline multi as well, not just online 1v1, as well as lobby play and all that jazz. I agree the lack of 1p vs or a normal arcade mode seems strange, but for now, the Survival mode is fine.
The reason I decided to go into SFV is that supposedly the plan from Capcom this time around is to just do the DLC thing as opposed to past games in the franchise which force you to buy the whole game over again five or six times whenever there's a patch.
