I'm going to be further investigating Link's strengths, but the fact of the matter is, is that Link's not as bad as this tier list says he is. In fact, I'd rate him as upper middle tier along with others if you'd give me time to explain in legitimacy and time to show you in some matches. I want to explain what Link has to actually make him an upper middle tier character, aside from match-ups. Link has great follow ups from Bombs at closer ranges, amazing kill and combo ability and overall great damage racking. Citing his mobility and only a select few slow attacks as primary weaknesses, Link is otherwise a good character if you see how well he can play if one masters him.
Link has a slow grab, yes, but it's not the worst tether grab in the game; Samus has that and Toon Link's tether grab (due to the range and frame data) is the second worst. With throw combo ability, Link can have a hefty amount of combos from his throws like D-Throw > U-Tilt/U-Smash/U-Spec, all viable options with only the U-Spec requiring a read or just a fast-falling character (Fox). As with other combo ability, his Bombs are a great way to set up into combos, though often not true multi-attack strings, but when he can set up, it's going to have high damage backed to it; F-Air, N-Air, U-Air, D-Air, F-Tilt, F-Smash, U-Smash and Dash attack all can be set up from by Bombs. And his Jab 1 > Jab 2 > U-Spec is something that has hidden KO potential that I'm going to start abusing more due to how good his U-Spec can be.
Now look, Link might not have much tournament representation, but when he does, he can actually get somewhere. It takes time and effort to make Link into a character worth one's time, and it's not fair that he just doesn't get as much tournament representation, despite needing it. He's nowhere near a bad character, because I know his MUs all too well, and Link is more along the lines of a center middle tier, if not the lowest of the upper middle tier at best.
Link is a character worth investigating more, because he can have pretty great MUs against opponents.
I can even show that myself to anyone who's interested. Even though words may not do much to sway you, actions can and will; if anyone wants to see why I believe Link can be a middle or upper middle, just hit me up with a PM and I can show you guys myself.