Whoa! I’ve never seen that before, it looks great.
The N64 wrassles are kinda like that, but each character has their own “spirit” meter, which can be filled by taunting/executing moves (how much it fills depends on how strong the move is as well as move variety) and one person’s momentum increasing doesn’t always mean their opponent’s is decreasing. Having more spirit means you’re more likely to kick out of a pin attempt or not give up in a submission, it also makes you more likely to successfully execute your moves on offense or counter your opponent’s move on defense.
It’s imperfect, but it works pretty well. Apparently, the new AEW game is being made by the director of the old WWF No Mercy, so we’ll see what a modern sort of take on this might look like for the first time since…2000?