A well executed jab not knocking somebody unconscious with blood everywhere is one thing, but delivering a lunging flying haymaker straight into their unguarded nose most definitely should.
Punches, especially punches one is not prepared for, are bloody brutal. And under no circumstances should a punch like that cause someone to fold and flail all over the place like a towel but still remain on their feet and throw a swing immediately.
I understand the changes in the unarmed combat, but there is definitely significantly less satisfaction. It is still possible to get those solid punches, but it is incredibly difficult and feels more like RNG than anything else.
I think something that would definitely improve it though would be nonlethal impact damage with the back or sides of the head and the ground dictated by force of impact. The other day I hit someone with the pole in Arena and they flipped and SMASHED their head into the ground. it literally hit first, bounced off, and then their legs hit the ground. There was no sound effect. There was no additional damage.
Considering the difficulty in knocking someone down with a punch, perhaps having them be able to smack the back of their head on the ground with a blood decal and some damage dependent on force of impact would bring some of that satisfaction back. Though I can't determine how difficult that would be.
And yes, need more wrasslin'.