Official game update
Avatar Legends Patch 2.5 Adds Ranked Mode 1.0
The official September update ships Ranked Mode 1.0 and documents a focused set of training, system, content, and fighter changes.

Short answer
The official Patch 2.5 notes say Ranked Mode 1.0 is available, Training can set block mode to Flow, and the update includes system changes plus fighter-specific fixes. Public Lobbies and Spectator Mode are not listed as shipped in these patch notes.
What shipped in Patch 2.5?
Ranked Mode 1.0 is the headline addition. The developer describes ranked matches as character-locked, best-of-five sets with rank standing at stake. The notes distinguish that system from Casual Match and say XP tracks online play rather than affecting rank.
Training also gains a Flow option for block mode. The official list separately names an input buffer for EX and Super techniques performed from chains, a PAX West Aang color, localization work, and multiple character-specific changes. This summary does not add timing windows, damage values, or undocumented inputs.
What remains separate from this update?
The notes identify the release as Patch 2.5 and date it September 2, 2026. They do not list Public Lobbies or Spectator Mode among the shipped features. A separate official September schedule says those items are planned for the next patch, so they should not be treated as part of Patch 2.5.
Players should use the current in-game menus for availability on their platform and read the full official notes for the complete fighter-by-fighter list. The source does not provide a platform rollout table or a date for the next patch.