Nobody
Bayo getting the only changes after 2 months should be indicative that this was probably the last balance change.
You would've been playing diddy Kong, sheik, ZSS, or whatever top tier.
You would've been fine. And Bayo probably wouldn't last against full-screen needles sheik, or kill confirm at 60% Uair = shine diddy Kong.
I wouldn't be fine because neither of my preferred characters (R.O.B, Fox) would be very good. Fox might have a leg up since he'd have his stupid jab infinite, but the point remains that the game would've collapsed under the weight of becoming a repetitive and boring spectator sport. Less viewers, less incentive to sponsor, less entrants, less majors, less exposure, etc.
Melee's lack of diversity is made up by the movement options and tech that make it engaging and allow for a diverse meta and constantly changing matchups/matchup perception. Smash 4 does not have the same depth in movement, meaning it'd take less time to "Figure out" the meta.
I don't see how Diddy grabbing is comparable to Shine at all. Shine requires skill and precision to use effectively. Against Diddy, it's a matter of "Don't get grabbed!" against a character with an astoundingly good neutral game that would've been quickly made apparent if players had been left time to not just coast by on Dthrow>Uair. The Shine is a versatile move applicable in numerous situations for numerous purposes, and Fox in general is extremely hard to use well in spite of how good his options are, but Diddy basically gets by free on grabbing > up airing you into oblivion. Players would start playing to avoid getting grabbed because of how devastating the consequences wold be. What does that spell? Less aggression.
The fact that a lot of gameplay would come down to "Don't get grabbed by Diddy/Sheik", "I'm going to run&gun with Sonic, "I'm gonna wall out and time out with Rosa", "Don't get hit by Bayo's combo starters", etc, the game would've inevitably become very defensive because displaying much of any aggression can be a death sentence and the game lacks the movement options for you to be extremely aggressive.
like I guess maybe it's "more fun" to you but the imbalance this game would've had would be very Brawl-esque, not Melee-esque. We aren't talking infinites, freestyle movement options, etc, we're talking about characters with oppressively good defensive toolsets and damage building
Brawl is its own thing and I'm not going to act like it's skill-less or uncompetitive but I'd really like to see Sm4sh thrive as a game and slowing the game's pace to a crawl and butchering its diversity are very good ways to kill the competitive scene. Brawl had many problems, but it's hard to deny that the speed and lack of diversity where two very huge issues, with little that's flashy to compensate for it.
Mind you I detest the idea of no patches even more because I don't even agree with the idea that Smash 4 is homogeneous. There are examples of certain character being worse versions of existing ones, but... most of the widely used cast is pretty distinct visually and in playstyle.