There seriously isnt any point. With a flick of your mouse, you can see anything you want as you need to. Unlike most DBZ games spoonfed to people, this isnt a game built entirely on giving you brief input every 2 minutes between cinematics - this is a fast paced action game alright. You havent got time to set up a folding chair, sit and drool over a glorified cinematic when there is a server of people hellbent on killing you. Like Budokai or ECX - once you have seen something once, you will be bored to death a million times later.
The only way you could see both players during a struggle at all times, is with a split screen. And theres nothing more infuriating than splitscreen, especially when the way it is now, i am free to manipulate the camera as I please.