I would love for Marine Stadium to make a comeback. On PS4 tech it could be epic the seats are filled with people and it's night time the announcer voice is different because it's in a stadium.
The giant screen from the PS1 version is there so as you fight you can see them on the big screen.
When one wins the match the announcer says said defeated person's name along with "You're Out"
With fireworks to go along with the victory.
Real version
Add some crowd interactions too like things being thrown into the ring due to the rowdy crowd mad one they were rooting for lost the round. Add signs too for the people to hold up for who they want to win.
Like a poster of Kazuya or Julia and other signs saying Kick Anna's ass Nina.