Nope. Well sort of...not really. Maybe.
As long as the combat works with the flow of the game and doesn't have any issues like odd controls for basic **** (MGR), poor camera (MGR), bullshit gameplay design (MGR), and doesn't feel awkward playing it (MGR) as well as uncustomizable controls (MGR) then sure.
Plus I think the Devil May Cry series didn't really set the bar all that high to begin with (the Hack and Slash genre is a vastly overlooked and unappreciated genre so not many devs are trying to really surpass and exceed the limitations of what the genre is capable of). Each game in the series have all been good to great games but each game lacked something that another had game that made it great too so if we combine all the best aspects of all the games (the creativity, challenge, and atmosphere of DMC1, the pakour and openness of DMC2, the stylishness and customization of DMC3, the complexity and depth of DMC4, and the accessibility and streamline of DmC) we'll have a truly amazing hack and slash game.
Plus Bayonetta and Bayonetta 2 is truly the HnS game that set the boundaries for other HnS games. Plus I think Hack and Slash games need to break out of the button mashing mindset or spastastic combo madness its stuck in and have more thought and creativity put into them like fighting games. How awesome it would be to have an action game like DMC that incorporates more aspects of fighters into them like counters, grapples/throws/grapple combos, an actual parry system (although MGR was the closest), specials/super moves, tag-team/support, low, high, and medium attacks, using the environment for maneuverability and other combat purposes (like DOA5 or MKX), physics, and super flexible enemy AI.