Out of curiosity, what happened to Megaman? He seemed to be on the rise some months ago and suddenly dropped again
MegaMan is a character who hasn't had much spotlight in the current metagame and because of this, many seem to think he's a lot worse than he really is. The issue with his results right now and how people perceive the character are partially because of Kameme, and partially because of a lack of opportunities to travel from all the notable MegaMan players.
Kameme's the main Mega people see at the larger tournaments so when he does something good or bad, or lacks in results, everyone's understanding of the character is viewed directly through him. Kameme's playstyle does a lot of things right but he still has an over reliance on the footstool OOS that brought him that 2nd Place at EVO so long ago for example. People are getting better at crossing him up and instead of relying on solid pellet spacing in certain situations, he runs around and shields with blade in his hand and allows people to pressure him when they shouldn't be.
He also doesn't fully utilize Mega's moveset like someone like Scatt does or any of the ever increasing tech MegaMan players elsewhere are adding into their play. I rarely see him edgeguard, use crash bomber, or use leaf-shield where Scatt gets a lot of mileage off it due to his better ledge trapping and offstage pressure. Especially vs Sonic, less pellets and no edge-guarding is hurting him. It was only until recently that Kameme finally switched up his gameplay vs KEN that he won the last 3 sets between them and hasn't lost since. He makes a lot of MUs harder for himself because of things like this.
In regards to falling off similarly to Villager, I'd say he hasn't. Bayonetta & Cloud were mentioned but a lot of notable MegaMan players actually don't think he loses to either (Scatt thinks Cloud even, Peabnut thinks Bayo/Cloud even, etc). It seems hard when you tunnel vision on his disadvantage state tho. Bayonetta he outneutrals and can outcamp. He's good at stuffing her approaches whether ground or aerial, dealing with "planking", has good ledge-traps, and optimization has been done to improve his punish game to keep up.
Cloud can hit thru pellets but the ways he has to do it makes him prone to getting anti-aired, has counterplay, and uair is super good to where Mega doesn't have to challenge the disjoint to do so. MU only gets harder when limit is in play but MegaMan's edgeguarding tools (which still have room for optimization & I don't see people pushing hard enough) are good at making Cloud burn limit on recovery or just putting him in bad situations overall along with other ways he can pressure Cloud to make it harder to charge or play around it once it's in play. Scatt said recently this is one of his favorite MUs, I think he believes Mega goes even atm.
If we look at his MU spread, having rough MUs with Sheik & Fox are definitely troublesome, but overall he doesn't really lose to that many characters due to the way he works. Especially not on the level of Villager anyways. Mega is a hard character to use optimally, but winning MUs over characters like Diddy, Sonic, Luigi, Peach, Heavies, MK, Ryu, Villager, etc will always keep him relevant. Scatt played at a local recently and looked solid. Peabnut had a great showing at Boot Camp. If both of them start traveling and Kameme with his newfound confidence in Mega figures out the holes in his play like he said he would on Twitter, I think MegaMan will be fine.