There's a zillion martial arts in East Asia that are exactly like this: frou-frou ritualistic bullshit that does nothing for anyone, least of all the practitioner. China especially is riddled with this, but Japan's got it too. The martial arts that do actually practice real combat between different styles and arts (like Kyokushin karate and jiu-jitsu) all end up looking like each other given enough time and exchange of techniques: karate ends up looking like kickboxing, BJJ looks a lot like Greco-Roman wrestling, etc. The mechanics of the human body dictate what the most efficient ways of fighting are, so different cultures end up coming to the same conclusions after enough development and all start looking something like what you see in MMA (which is sort of its own distinct style).
Swordfighting, when allowed to develop as an open and active martial art, is the same. A lot of the non-isolationist schools of kendo end up doing similar things as older and more lethal forms of fencing, which also look a lot like what people do in HEMA today. The way you use the weapon changes according to the blade, but the way you manipulate both the weapon and the space you occupy all converge in a way dictated by the human body no matter the culture or style of blade.
There ends up being nothing worse for a martial art than staying in the dojo and protecting your style from outside influence.