Eh, when you're disadvantaged against Sheik, Bayo, Rosalina, Mewtwo, Marth and possibly slight disadvantage against Cloud I can't really see Luigi being too relevant.
His advantageous MUs are also sitting at 'slightly advantaged' at best.
Even when assuming Luigi doesn't lose to other characters in high tier and below (He does... to actually a bit of them actually), that's not a good MU spread bruh.
His explosive damage is handy when you manage to land that grab, but how are you going to kill against someone who doesn't approach or make commital moves? U-smash is good but it doesn't beat disjoints. B-throw kills wayyyy too late on anywhere except on the ledge. B-air also doesn't beat disjoints. You can't really Cyclone gimp a lot of the top tiers.
To me, Luigi is just... mid tier. Bottom high at best, but no more than that. Character isn't the beast he was (If he was to have his old D-throw back then he's going to jump to Top 15 probably lol) and while the popular opinion is that people overrate Lugi's nerf bat, it's kind of understandable. Losing kill setups (Almost entirely) are HUGE and hinders him greatly. He doesn't even have 50/50s anymore, D-throw to Cyclone stuff be damned (Miss and die, basically. They usually can just DI up and away, double jump and Luigi can't catch them), and... yes, he can't kill very well because of it.
If we ever see his rise once again in this patch, I wouldn't put too much bet into his consistency. When people learn the MU and stop trying to beat him in close combat he probably is going to fall (Not that I expect a lot of people to actually adapt that playstyle, but... you get my point.)
...The day when a Luigi is forced to take on MKLeo's Marth is probably the day of suffering for the aforementioned Luigi. Just sayin'.