I don't like leaving responses without giving a throrough critique, but you got this. Please make the sequel. I'd love to see Irukandji and TheLOL_Flashlight going at it in this new style (since this is different from the previous four.)
As for this one, I think this style is much better (though the style of Grafight III was boss.) The cinematics make it more dynamic and entertaining. I especially liked the entrance for Green_is4u and the chill walk-in entrance of Intagonist-six. Flashlight is epic and Irukandji feels like that infuriating old villain character no one likes, but needs to not be pwned by Flashlight. Purplepanda1 is awesome sauce too. Those scenes with Irukandji flashing up were great.
Since this isn't focused on plot (let's be real the only reason we pay attention to it is because we know how epic the characters are from previous Grafights) you should definitely make a sequel. We're just in it for the battles anyway. These sticks are characterized by the way the way they fight and some of the banter exchanged in earlier Grafights. Though here, you definitely characterize them via fighting and even warp their characters a bit. Flashlight wasn't as nomnomnomnomimakillyouRAGEMODE in previous entries. Purplepanda1 possessing Green was awesome too. Not many animators can CHARACTERIZE their stick figures so recognizably and with such finesse as you do here. (I also watched Rushed3, I still think this is better in terms of what your action accomplishes.)
Do more of this. The world isn't complete without it.