These are the only nerfs that are needed, and after that, Sakurai won't have to neuter anything:
Cloud:
-Limit CS KBG reduced, ending lag increased by several frames
-Dair doesn't auto-cancel right after the hitbox ends, active frames reduced by 5
Bayonetta:
-Witch Time actually scales with the damage of the countered attack; Bat Within is removed here to make it more punishable.
-Witch Twist frame 4 -> frame 7
-Witch Twist and ABK have smaller hitboxes
-Bayonetta cannot reuse ABK after getting hit, making her feasibly edge-guardable along with the above point
-Each hit of fair has increased ending lag, unless immediately doing all three hits
-Of course, the design exceptions to Witch Twist and ABK (ignoring weight and gravity, disabling DI) should be fixed.
And if we want to go into buffs (regarding the more dysfunctional characters):
Roy:
-Hitstun on down throw increased / ending lag decreased
-Fair start-up frame 10 -> frame 7
-Air acceleration increased
Falco:
-Dashing speed 1.47 -> 1.7
-Jab properly links together
King Dedede:
-Air speed increased (why the nerf?!)
-Back throw sends more horizontally and with better KB
-Down throw has lower KBG
-Gordo reflect damage 2% -> 6%
-F tilt ending lag reduced / range increased
-Jab start-up decreased
-Basically undo the nerfs
Jigglypuff:
-Bair start-up slightly decreased, duration increased
-Down throw has lower BKB
-Dair landing lag reduced
-Roof blast KO's disabled on Rest
-Fair start-up frame 8 -> 6
-Uair start-up frame 9 -> 6
Duck hunt:
-Finally fix his smashes so they connect
-Make his up b a bit faster and/or travel farther
I may be missing some but eh. Just fix all that and the game doesn't need to be touched again IMO.
F
Fex13
Cloud "is no top tier?" Have you not been keeping up with the meta? There is no way that a character who combines good frame data, absurd range and active frames, a charging mechanic, and great mobility all in one package is not top tier; his only two weaknesses, which aren't very exploitable in practice, are his grab game and recovery. His lack of extensive grab follow-ups is remedied by that fact that he gains so much off of positional advantage thanks to Limit Break, and his recovery is only a problem against characters who have the adequate tools to first get through his neutral game and then properly threaten him offstage. On the results front, he has m2k, Tweek, and Komorikiri, and he has surpassed Mario as the most popular pick in tournament play. Those are the traits and results of a top-tier character.
"Learn how to shield?" Cloud doesn't have to approach you to begin with when he can sit back and charge Limit with 0 commitment. A good or even decent Cloud player will space you out with nair, fair, and bair, and you often won't be able to punish them when they're spaced properly. And, like I said above, Cloud's lack of actual throw follow-ups doesn't matter because all he really wants and needs is positional advantage. Fox has been top 10 for a long time and he doesn't get much guaranteed off of his grab.