Firstly, minor nitpick,
@Chainz. Usmash is frame 6 not Frame 5.
Personally I like to think of Pit as a character who is only as good as his Player, how well you do with Pit relies solely on how well you play. He doesn't have any BS overtuned moves like the top tiers, no bogus incentives or reward to pick the character over others, but at the same time he's not bad at all. Definitely good enough to hold his own. I mean Kuro went toe to toe with both Mr.R and Dabuz at umebura S.A.T. managing to take games, and it goes without saying that he's not even on the same level as either of them.
Pit seems so basic only because that's the way the Japanese Pit mains play him but there really is alot more depth to him. Most people just don't know it because lets be real did you ever bother to look up a Pit video besides Earth?
Admittedly yeah some of Pit's hitboxes are ass but hey we make do with what we have, If people fall out of nair why not use it as a kill confirm. It's definitely
unreliable enough although the timing is strict but if people are starting to consistently use step dashes and perfect pivots there's no reason that we can't get consistent at this. Nair may look like a terrible move but it's still a frame 4 multihit that's safe on shield and in neutral.
https://gfycat.com/MadTalkativeAlaskankleekai
B-reverse side B covers a great amount of distance. It's pretty good at beating out landings as it can cover both airdodges and attacks thrown out. People say it's slow and punishable, well duh do you want Dark Pit running around with a fast lagless electroshock?
not that I'd mind.
https://gfycat.com/JovialBarrenIchneumonfly
I'm hearing stuff like Pit's reach is bad or he has no safe grounded pokes.
For reference Pit's dash attack is frame 7 and has more reach (due to the burst) than Corrin's instapin which comes out frame 8. Pit's blades don't exactly have much disjoint by themeselves but combine them with the way Pit contorts his body to reach out further and you have some good range.
Admittedly his grounded pokes are pretty lacklustre (understatement for dtilt, god what was the point of that move). But Jab makes up for it. It's safe and leads into grabs. Also it has nice range~
https://gfycat.com/EuphoricSmoothLangur
And
Megamang
was right, Dair is really good for footstool combos :3. And this is only scratching the surface of it, you can rinse and repeat the combo there are more complicated setups, kill setups, throw setups etc. Dair itself does 10% fresh.
https://gfycat.com/UncomfortableValuableBluegill
tl;dr Pit is not exceptional by any means but don't start undermining him if you don't know what he's fully capable of.