I've definitely used Phantom *far, far more* than I ever did (let alone in tournament), but I never actually started using it in neutral yet. I still keep what you said in mind, so I actually want to give it a chance. I think there's some truth to your Phantom hype. If you put a giant piece of junk right in front of your opponent, it's bound to force at least some reaction. Even if they're really fast and mobile, they still have to use one or two jumps to get over it, and it's not like we can't let it rip any time while we're charging.
There's this guy at Discord that discovered that Zelda can cover pretty much every option with a perfect spaced F-Smash. And if you're perfect at setting up the Phantom, it actually covers the ledge invincibility wait... the only thing they have is to drop off the ledge, but it sacrifices their invincibility.