I think there's one major factor: money.

People don't tend to realize that voice actors cost money to hire (as many of the popular names you'd provide and that voice characters in this game) are often part of unions or have contracts that get drafted up. In a case like Blazblue, which I'll argue is a niche game due to its numerous version releases that rival DOA 5 at this point, publishers don't want to spend that cash if they're not sure they'll make it back (and a profit of course).

In those cases, I'd rather the game come across than not at all because they decide it's not worth the cash and give up (See: Sega for the last 5 years prior to buying Atlus).

For argument's sake, let's assume those 695 signatures are guaranteed sales and no one else buys this game at all (and the game costs $60 at retail cuz math), they'll pull in $41,700 with these assumptions in place. That'll scare off anyone in the higher-ups category. Petitions are all well and good, but they're going to look at sales and only sales to cover any and all development/localization costs (such as editing the game and getting it rated by the ESRB).

Petitions may help, but preorders speak WAY louder than an internet petition.

I'm perfectly fine with no English VO in a game like this. That stuff is expensive and even then it's usually vastly inferior to the original.

I was pretty disappointed when Guilty Gear Xrd Revelator lost the English voice acting, as I had been waiting years for them to add it and was happy when Xrd did, but at least that series had a long history without it, so I was willing to accept it.

Blazblue has had English voice acting since the very beginning though and it's also also a pretty long running franchise at this point. (Almost a decade with over a half dozen entries.) While I kinda stopped caring about Blazblue years ago (Persona 4 Arena and Guilty Gear Xrd covers my ArcSys fighting needs aplenty) I'd be pretty upset if I was still invested. With that series seemingly wrapping up at this point they should have just bit the bullet and remain consistent to the end for their fans sake. Maybe they realized enough of their fans would still buy the games regardless, but I don't like it. It's a dick move to remove it now. Leave it out of future IPs if you feel it's the only option, but don't remove it from franchise that has always had it.

These games don't make enough money for the company. Outraged fans will buy it anyway. it's either it doesn't come over at all, due to the costs involved with doing English VO, or it comes over without it. It's a real fucking shitty situation but that's business.

I feel like at this point BB has been so overshadowed by GG, even for the players that play it singleplayer only (and I still barely know why), that it does make sense that they can't pump in the time and money for english dubs.

That said I'm a bit biased since I'd be in it mostly for playing against people offline and would always set it to japanese anyway since I usually can't stand english voice overs in games like these.

Given that fighting games are a small niche, and anime fighting games a subset of the FGC on the whole, I think we're lucky that we're getting NA releases at all. It would be much easier for ArcSys to just do Asian region releases with english subtitles (like Super Robot Wars just started), leaving us to import from play-asia or something like that. Although I'm just fine with SRW since the licensing prevents any easy release and it's just a minor price increase to avoid the hassle (for the consumer)