C-V Akiha is bad because she's MBAC V Akiha, but with several nerfs. They include:
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Her J.C is now techable-She lost her good Arc Drive
-236C is nerfed from MBAC
-Momiji loop damage is lower
When her J.C gave an untechable knockdown, V Akiha had no problem setting up strong oki/momentum from anywhere on screen, and was easily able to pin her enemies in the corner. However, this is not the case anymore, and it hurts her game considerably. Not to mention, she loses her great EX-grab AD from MBAC, and her 236C loses its trading abilities.
What does C-V Akiha gain? Air pit activations..........
Her J.C is also now special cancelable, which is kind of cool but doesn't make up for the loss of the untechable knockdown.
H-V Akiha plays similarly, but has a better J.C, better momiji loops, and is just better in general. If you're choosing V Akiha, go with H or F.