PIZZA PASTAAAAAAAAAAAAAAA!

This is one of those “ghost and goblins scenarios” you just have to keep practicing until you “git gud”. There are fewer fighters in this game so you only have to memorize 6 patterns and yeah you have to learn and adjust as it’s not quite the same as the NES one in controls

I’ve played the emulated version of this before and the arcade machine as well and all I can say is: not the best start for the Punch Out series. I still like the Wii one best myself.

2008: The Wiiviewer reviews Punch Out as his first review
10 years later: The Wiiviewer reviews the arcade version of Punch Out

The control issues you mention are sadly part of the arcade original. They’re meant to prevent you from just mashing buttons IIRC, like the stamina thing in NES punchout but invisible. I wouldn’t say this is something skip worthy as I liked this more than the NES game, but the SNES game did the same concept but better. I managed to beat the first five opponents with no problems at least after some trial and error but the last opponent is pure evil as the AI will downright go TAS on you.