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That still leaves the problem of trying to land the first hit, yo. If both players know what the Bayonetta player wants, couldn't the Sheik player just Needle camp until Bayonetta gets too angry? That leads into the second point, how does rage affect this? Bayonetta was at 0% in that video, so she had no rage. Could the increased knockback mess with her combos? It's possible. And what about Sheik's percent? You can't expect Bayonetta to just wait to do damage until she gets close to Sheik and then do a zero-to-death. Her opponent could just camp and go to time then, avoiding any damage. So then it's possible the increased knockback from this can also mess with her combos.
I'm not saying that Bayonetta can't be top tier. But unless her players find ways to deal with whatever I mentioned, she likely won't be top tier. I mean, she's not the only one with a 0-to-death. *cough* Lucas *cough* *cough* That alone won't make her top tier. And if she doesn't have stuff to deal with the top characters not named Sheik, the Sheik player could just have a pocket character for fighting Bayonetta.
Regardless, she's too new to really make any solid assumptions. We'll see how she's doing in a month or two, I guess.