So you preferred Clark when his 100% combo was a couple of Gatling Attacks? You know, there's this game called Marvel I think you'd might me interested in...
Nonetheless, I started with XIII, but I took the time to look into older KOFs to appreciate the characters I like to play now. I'm saddened, sure, that many characters lost their moves. I thought Maxima's moveset was lackluster even before I knew about his old one.
However, in the sense of movesets, I kind of understand why they toned down. There's this game out there called Tales of Arc Strife Cadenza, which is a fan made fighting game based off the Tales of series. Take a look at this command list for one character, Yuri Lowell, and you try and guess how many are useful.
http://acs.wikia.com/wiki/Command_List:_Yuri_LowellNot counting the supers, probably 9.
I think SNK was thinking, "Everything in moderation". And what they had, they made amazing aesthetically, and gameplay wise. Every character is practical and beautifully animated. Less is more, I guess. Ultimately, they wanted something new. Would you rather have KOF be like COD?
And it doesn't "revolve" around loops. The core of KOF is still there.
But, to each their own.