I can't say for certain, but it seems like some characters have to wait longer before they can grab the ledge than others.
It appears you main falco. If that's the case, his fall speed combined with late grabbing the ledge (or maybe just fall speed if it is the same for every character) makes it not so good. You have to be like almost a full falco double jump above the ledge without fast falling in order to grab it. You pretty much will only have that happen if you try to jump high and see they will intercept, so you air dodge aiming for the ledge. Otherwise, you will have to land on the stage, get hit by something that won't kill you, or die.