The first English-language review by someone who has beaten Shinobido 2 is out. The game is not for everyone, and definitely won't get mainstream praise, but has merits.
"Shinbido has a ton of depth. Even in addition to the pile of available missions, faction playing, and ability to customize Zen’s growth, there’s an alchemy system in place. By gathering items during missions or purchasing them, players can mix all sorts of combos to make some really wicked ninja tools. If it’s not your cup of tea, that’s totally fine, as the game can definitely be played in its entirety without ever getting into the alchemy. Use of these awesome ninja tools can open up new strategies for players and enable different ways of going about achieving Zen’s goals, adding to the replay value and longevity of Shinobido 2." -Heath Hindman