I think the character metagames are changing. The top four characters according to the tier list are Fox, Marth, Shiek and Falco, yet look at some of the latest tournaments.
Mango has been dominating with Jigglypuff for awhile now, Hungrybox got 3rd at Genesis and won Tipped off 5, and at Genesis, Raistlin and Darc got 9th and 13th. Captain Falcon as well has been going up with Scar, Hax and Darkrain placing 6th, 7th and 8th at Genesis and SS is one of two players that have taken a set off Mango, and he also beat Zhu at BIO3, taking 1st place.
Peach has been going upward somewhat as well with Pink Shinobi and Vwins and of course Armada.
Ganondorf has Linguini, Kage and Rockcrock all doing well too, and Kage got 5th at the first ROM going through JMan, Azen, and many others.
All of the High and upper Middle characters are placing high in tournaments, some even more than the top tier characters, which is interesting and keeps the game fresh. Teams is still pretty Fox heavy, but I like that Singles is expanding on the number of different characters.
One other thing is the surprises and upsets that have spawned in recent tournaments, but mainly Genesis. It keeps the game exciting, instead of the same group of people winning all the time (minding Mango).
Genesis:
Pink Shinobi beat Cactuar
Axe beat JMan
Eddie Mexico beat Colbol
Lovage beat Hax
Armada beat Dashizwiz
Armada beat M2K
Armada beat Mango
Zhu beat M2K
Revival of Melee
Kage beat KDJ
Kage beat JMan
Kage beat Azen
Hungrybox beat KDJ
Don't Stop Billievin':
Dr.PP beat Chudat
Tipped Off 5:
Hungrybox beat M2K x2
Of course, some people will disagree with how impactful these were as well as list others, but if Player A always beats Player B, it gets boring. With some of the craziness, mainly Armada, the game becomes exciting again.
Also just a side note, how many people other than Armada went from "Unlisted" to 2nd best in the world after one tournament? Usually people expect multiple tournament wins before accepting they're better (such as Hungrybox vs M2K), and Genesis was Armada's first US one.