I wouldn’t say it moved us backwards. All SFV did after all was follow the trends set by SFIII and especially 3S. Speaking of which, 3S has gotten a lot more love as time has gone by, but it is a game that was equally divisive as SF5. As much as I have an emotional attachment to the game, I have to admit that it has a lot of issues (outside of balance) if you’re looking at from a Street Fighter perspective. A lot of this was better explained in this old thread by Viscant. Suffice to say, 3S is less a game about fighting for position, compared to older SF titles. This is something that it shares with SFV - both emphasize getting in, playing up close, and getting “reads.”
Now for SFIII this was all a natural result of what was happening back in the late 90s. This was when 3D fighters were doing pretty hot, and airdashers were just starting off. Capcom’s response to this was to try to focus Street Fighter more on, as mentioned above, getting in up close and making reads - something more akin to a 3D fighter.
Now, since SF always follows the cycle of the newest game being hated, while the previous one suddenly gets put in a better light, 3S has of course gotten its stock raised in the world. This means coming into SFV, we end up with a dev team that see’s that people now like 3S. This is important because the SFIII series’ emphasis on getting in jives well with the how most modern fighting games now play thanks to the influence of 3D fighters and air dashers (as established by Guilty Gear) - basically, we have a divide between neutral and pressure phases, with players being granted access to the former by winning in the latter. SFV just refines this futher (with a Guilty Gear player designing the combat) so that the pressure game revolves around commitment and reads, instead of having powerful 3 way options selects (SGGK) like in 3S.
Additionally, compared to classic SF, 3S has gained a reputation for being more spectator friendly thanks to both Moment 37, and the amazing stuff we get to see from Japan - something Capcom wanted to build into SFV. Naturally, relying more on pressure, reads, and stealing turns can be more exciting to someone not versed in high level classic SF than say, someone continually pressing low forward until they see an opening to walk up and throw. And in a way, they have succeeded in that front. I mean, just look at the tweets from people about NCR, even players who don’t like SFV like Arturo and Sanford are admitting that it is fun to watch. The problem is, of course, for anyone looking for classic SF, it isn’t exactly fun to play.