Sheik's option coverage is oppressive. She can always do something which is why she's so good, but her weight nerfs are greatly understated. She dies almost exactly 1 neutral win sooner. Which is huge since she can be put at death percent in as little as 1-2 neutral losses. Meanwhile sheik herself has to win abut 8-14 neutral wins to get the stock vs a character without a ass recovery or usmash read.
Meanwhile, bayo retains more aggressive options across all gamestates, and she kills you within 4 neutral wins easy. Sometimes just one. While her neutral isn't the best, it's still better than average and carries insane reward. Far superior to mario or luigi's reward despite their inferior neutrals. (Considering kill confirms, not just damage potential)
M2 is similarly oppressive in neutral but again only needs to win neutral within 4 times. (one dtilt string = 41%. Then 2-3 fairs, shadowballs, or fthrows and they're at ledge trap kill percent. And if he lost neutral enough himself, they'll just be at uthrow kill percent anyway)
Sheik is actually lighter than m2. She's easier to combo than m2. They BOTH have anti-vertical string escapes so it's not like BF gives her an edge.
I don't know why people bring up m2's ledge weakness. It isn't bad at all, it's just the ONLY place he's even somewhat susceptible. He can't be kill confirmed easily, and he has too much priority, range, and speed to kill consistently off neutral reads.
Rosalina, Mario, Cloud, Fox, and Ryu are all weaker on the ledge than m2 and lack the safety to recover high or put out 1.5 hitboxes (confusion + fair/uair) to make the ledge safe.
These characters (and maybe corrin) are a clear tier above the rest except maybe diddy who can actually contest them in neutral/kill confirms. But his disadvantage is far more exploitable so he's still clearly more fair.
Gheb's list would be more accurate ordered imo lol