I agree with the previous post, especially where they should go away from the mini games and randomness and just let the player proceed with what they see. I have no clue how it can be done but it would make for a great natural fight and also multiplayer matchups would be more interesting.
I also wouldn't be mad if they stole ideas from the NBA 2k games for career mode and gm style modes, EA is just so bad with that type of stuff that it's embarrassing for a big company to be so shitty at such an important aspect of games.
They achieve that by providing more organic visual & audio queues as to whats happening under the hood.
A few examples - A tired fighter should be slower, hands hanging a bit, huffing and puffing, sweating noticeably, etc.. all of this can be used to varying degrees based on the under-the-hood stamina level of the fighter. No bar necessary, just look at the fighter. In addition, the commentary should be making it known that Fighter A looks gassed.
A hurt fighter should exhibit different queues. Depending on the amount and location of damage. A beat up body or leg should be red, swollen a bit, and movement should be impacted more and more depending on severity. I shouldn't need a transparent dummy in the corner with a red spot, just look at the fighter and listen to commentary.
Cuts & bruises should be organic, a rocked fighter should display varying reactions depending on severity. A small rock would maybe be a leg wobble & stumble, partnered with the commentary making it known that "he looks hurt after that strike". A more severe rocked state, should be a fighter getting dropped, along with a more emphatic response from commentary. You can arrange for many reactions to tell the severity of damage.
Submissions really just need to linked up with the rest of the grappling controls. Commentary should be immediately telling you that Fighter A is attempting an Arm Bar, and with the proper tutorials the steps to executing & defending a submission should be very thorough and allow for drilling on your own until you can recognize the steps of each sub.