Keep in mind that the combos in the following video are of a game with a 240pt life bar.
You have a regenerating life bar for that second player and you aren't able to do insta-kills off of it due to the revision reductions on each tag.
Tag has always been this way.
Before, people were complaining there weren't any combos or guaranteed damage or punishment.
Then, they are given a mode to get combos, guaranteed damgage, and punishment.
Now, they say they don't want the combos, guaranteed damage, or punishment.
As for it being the standard. Honestly, too easy to say. It's up to the ones who show up to tournaments.
But personally, I'll be restarting a tag side tourney at my events to see how people like it and if it grows.