The characters are unable to move as freely and effectively, recovering has been made easier, buffering has made timing less important, getting hit is not as detrimental (as you take one or two hits and then are back on even ground), and shielding has very few consequences.
How is that not dumbed down in comparsion? It's like saying that a school bus is not big in comparison to a punch buggy. It's not opinion, it is a direct comparison.
Ok, lets see..
Characters Are Unable To Move As Freely / Effectively. You would think people would interpret that as an opportunity to use their skill to move their characters as effectively as before despite adversity. In any case, making things difficuly, even Fake Difficulty (Tv Tropes for reference), is the opposite of Dumbed Down.
Recovering Has Been Made Easier. Easier =/= Dumbed Down. As a player of many fighting games, I happen to feel that easier recovery/Ukemi (depending on the game) doesn't really make things too simple, in fact, it makes things more fast and even paces, and keeps players on their toes.
Buffering Has Made Timing Less Important. I'm going to compare Buffering to the similar but distinct concept of Canceling... at which point lots of things go out the window. Such techniques usually don't detract, but actually add to the variety of skills and techniques that can be used. Once again, being able to adapt and use new techniques and gameplay takes more skill than throwing them to the wind.
Getting Hit Is Not As Detrimental. Umm... yeah... Taking more damage, thus lengthening the match, does not necessarily make it dumbed down. It just means that there is more one can do, and more one can fight, before being taken out. I hate comparing this game to other fighting games, because it's an extremely different game, but I'd like to point to Marvel vs. Capcom 2 as a game that greatly increased the damage players can take while multiplying the edge multiple times. That aside, not being able to take out your opponent as fast is never, ever, a detriment. It just means you can fight more.
Shielding Has Less Consequences. Well... I've never met anyone who Shields more than a two or three seconds a match anyway, and I've only ever seen one or two Shield break, so I can't really say anything about that.
Note, I'm trying to remain neutral in this (my stance is "Sakurai may have made a mistake or two, but that doesn't mean he doesn't know what he's doing"), but I am trying to take opinion out of the picture. Almost everyone on this thread is voicing what is blatantly opinion as if it's solid fact... It's kind of annoying.
For example, ChromePirate's recent comment is completely opinion, of the kind that:
"Wavedashing / L Canceling = Good, thus everything opposite that = Bad. On that line, if Sakurai doesn't want to move in that direction, he is a bad designer and isn't fit to do Smash." No matter how many people agree with that,
it's still an opinion (and
that's the truth) and it doesn't matter who uses that opinion or how many rally to that cause... what's judged to be good and bad isn't up to you.
As Bowser King said, I can't deny the truth, but I see very little truth here. Only what people think to be true. Whether or not you turn out to be right doesn't matter, at this point you're only assuming to be right, or, at the worst cases, think so much of yourself that you think what you assume is automatically right. Thankfully, only a few people on this thread are like that...