Wario will never be more than a mid tier without any patches. Warios are blessed with having two PHENOMENAL players as their top reps, Reflex and Glutonny, but don't let their personal skill confuse you. Besides these two there are a plethora of great Warios out there honestly, but the current meta isn't kind to Wario at all. Players such as Capt W, Snorley, Waymas, Austin, Lord Frieza, Iota, Harlonga, C4, BGG, and Mundo are all great Warios in their own right who have gotten good wins. A few weeks ago, Waymas took mk Leo to g5 and almost beat his Cloud (unfortunately missing some key punishes hurt him). Snorley has been doing great recently, beating ESAM and 8Bitman. C4 and Capt W have nearly beaten Ally, all of these Warios are amazing players, but unfortunately Wario just isn't that viable in the current meta and as such you won't see him commonly. Much of his current rep were Brawl Warios (Reflex, Glutonny, Waymas, Austin, and Iota I know for sure off the top of my head) and are just dedicated Warios. None of them will tell you Wario is more than a mid tier, and some will even say he's a low tier.
Wario has a plethora of moves (Chomp, Fair, Nair, Bair, Dair are the common ones that all work at different % ranges, but he also has some DI mixups that let fthrow or dthrow setup as well) that put you into tumble and setup for jablocks off late fair and late dash attack. He has footstool combos too, mainly setup off nair or falling uair which can lead to huge punishes for sure. Waft is broken as **** and gives Wario a huge X factor of course, but he still needs to take a stock without it most of the time (or use half waft twice which most Warios prefer). His maneuverability, busted specials, and recovery are his main selling points. Chomp is a godsend in neutral, and having it allows him to threaten shields in a unique way.
However, that just isn't enough in this meta. Wario's 3 worst MUs are generally thought to be Sonic, Bayonetta, and Cloud. There is a bit of dissent on Bayo being ranked with the other two, but at the very least Reflex agrees with me that those are his personal 3 worst as well. Besides those 3 abysmal MUs, he also has a few other 60:40 MUs such as ZSS, M2, ROB, Diddy, Fox, and Marcina. With the exceptions of ROB and ZSS, those are some of the most common tournament used characters . A Wario is guaranteed to run into multiple of these every (relavant) tournament. His only good MUs against solid chars are vs Lucario, Luigi, Megaman, Rosalina, Bowser, and Olimar. As such, he doesn't have much utility as a secondary which is why you mainly only see Wario mains.
Funny enough, Glutonny prefers two stock to three stock and has been advocating for France to switch over to 2 stock. Most Warios prefer 2 stock to 3, although as with any subject there will always be a bit of dissent. I'm not saying Wario is hopeless, but with his 3 worst MUs being top 6 characters, and being very common most levels of play, it's unlikely that we'll ever see Wario do much more than what we current see. You'll have what looks like breakout performances when Glutonny and Reflex travel and take names, but they can't travel often for various reasons and their wins are generally a byproduct of their personal skill levels rather than Warios viability.
tldr; Wario sux, play Bayonetta.