PVP in PSO2JP can be considered dead content. (C-MODE lasted longer.) For non-JP players there is latency disadvantage, the further away you are from the server the worse it gets. Ping unfortunately plays a determining factor in PVP. Situations where players were out of sync were common, affecting a person's perception, anticipation and skills. For example, you could be killed by a melee player who wasn't even close to you on "your" screen but on "his/her" screen you were in melee range. Then there is balancing issues, skewed hit boxes, RNG deciding your weapon, a time-to-kill ratio even Call of Duty games envy. And not to mention the limited options/match types the mode offers, there is not even a basic 1 vs. 1 match.
In the original PSO, PVP wasn't particular excellent either. (balancing issues and weird hit boxes.) So I wasn't expecting much when the mode got introduced to PSO2. At least the original had more PVP match (type) options and a better time to kill ratio.
Neither PSO or PSO2 was developed with PVP in mind, it was an afterthought for both. PSO Version 1 did not have PVP. PVP better known as "Battle Mode" was created when the game was ported to PC and re-released on the Dreamcast as PSO Version 2, a year after the release of PSO Version 1.
In PSO2's case, a gimmick added 5 years after the game's release because the community kind of asked for it, I guess. I always assumed the part of the community that never played PVP on the original PSO or at least weren't familiar with the mode's perception to be responsible for getting the mode to PSO2. I can't imagine the majority of players that did played the original PSO caring too much about getting PVP to PSO2, at least I never did.
History lesson aside. The mode can be fun, but don't expect anything amazing or excellent. There are PVPs out there that do a better job and there are some even worse.
In the end, PSO and PVP haven't been a match made in heaven so far.