Nah, it's a lot more like MvC2 than CvS2, Mike Z himself even calls it "Marvel 2 without the bulls***"
having the full cast play in each round rather than 1v1 with teams; assists, DHCs, snapbacks, launchers and air combos
The only thing it really has in common with CvS2 is the ratio system and even that is fairly different from the way CvS2 does it. I think they may have said that they might try to implement an extra mode where the team aspect plays more like CvS2 in the future with a patch, though.
Also, technically the game does allow infinites, it's just that the opponent can get out of them by pressing a button. If they don't press anything then combos can go on forever
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