kata teaches balance, grace, and coordination. kata is our link to the past. it teaches focus, precision, leads us towards a path to perfection (perfection of our basics). katas provide a mild form of exercise (of course some can require a lot of energy) that one can do at any age. as far as bunkai and hidden meanings, i think that many martial artist are over thinking it. it becomes theoretical. i personally don't think that the masters of old had some hidden techniques that they shared with only a few. it is what it is. i think beyond the mysteries of special techniques, katas are about self perfection.
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