I like that in Japan the first game is called Fujiyama Buster, but the only sign of Mount Fuji is a billboard on the side of the robotic Shogun (they should have called him Rogun!!!)'s background. And so the sequel is Blood Warrior the world over.
Blood Warrior is actually surprisingly decent and fluid for a Mortal Kombat-inspired game (with SF2-inspired gameplay, though). Nothing particularly special, and uglier / cornier than most VS fighters, but not bad. Though as the article points out, it'd have been nice to have a proper final boss and some hint of a story to give it a bit of extra flavor.
I also like how the article digs into the credits and even spends a few lines on the Japan Action Club, but there seems to be a factual error. It claims that there is a creative link between Shogun Warriors and Samurai Shodown as the name Nobuyuki Tanaka appears under Special Thanks for Shogun Warriors, and as Executive Producer of Samurai Shodown. However, he is only credited as executive producer for the Genesis port of Samurai Shodown - his name appears nowhere in relation to the arcade original, for which the executive producer is Eikichi Kawasaki, the former president and founder of SNK. (All credits on mobygames.com).
The port in question was not handled in-house at SNK - it was programmed by a company called System Vision, which also made Deadly Moves for Kaneko and Ragnagard for Saurus on the Neo Geo. It was published by Sega in Japan and Takara in North America, but it was probably produced by Saurus, as Nobuyuki Tanaka was actually the president of Saurus, and they were involved with a bunch of SNK console ports. They also made the Neo Geo Pocket Samurai Shodown. There is no indication that Nobuyuki Tanaka was ever involved in the creative side of video games, either - all his credits as Executive Producer refer to his position as President of his company. Saurus was founded in 1993, so it's possible that he worked at Kaneko in some capacity when Shogun Warriors was made. Then again, it may not even be the same person.
As for any similarity between Shogun Warriors and Samurai Shodown, games companies tend to pay attention to what other companies are doing. It's entirely possible that someone at SNK saw SW in an arcade and went "it's not a very good game, but that theme has a lot of potential" and decided to do their own take on it.