She has magic and wields a wand, she has cute magical non human sidekicks, she's a protector, she can maybe transform (not counting powerups) and just hasn't had a full transformation sequence onscreen, (list more if you like).
Possible reasons for No:
She has no alter ego (assuming Cosmic Spirit is a separate entity), she has no major transformation sequence, her transformations may actually be astral projections or non-canon, (list more if you like).