Well of course you couldn't play someone at a game they've played before and you haven't and expect to win right off the bat.

That's true of pretty much every competitive game or sport out there, and isn't a reflection on the complexity of the game in question so much as the fact that uh... they've played before and you haven't. :'D But knowing moves and character matchups is like... very much the basics of the basics, and stuff that you can learn in about an hour. Learning that doesn't make you an expert. Just a step above a beginner.

So I don't think it's really fair to say that you're "set" if you know that stuff. Maybe you're set if you're only going to be playing people who have never played the game before. :'D