I don't play the King of Fighter games much, but I love the art style and I'd love to main Iori Yagami (who I think is where Wolf's moveset was inspired from) and King. Maybe Joe Higashi because of Nobuyuki Hiyama, Link's Ocarina of Time voice actor, voicing him.
Anyway, King functioned as a zoner as she had access to several projectiles from what I remember. In a way, Brawl Falco could be considered like her except King didn't wall out people in a broken way. Melee Falco could fit as well, but he could approach you as well whereas Brawl Falco approached and forced approaches in a really broken way with one move, Blaster. Melee Falco had to do more. SSB4 Falco should have been like King who could force approaches safely and fairly. I'm not sure, but I don't think King could wall out people like Link, Villager, and Mega Man with several angles of projectiles and functions of projectiles. It was just an energy blast from kicks which translated to Falco would be Blaster used at different heights, timing, etc.
With a slower grab, slower Dash Attack, no shield push on Bair, and being slow in general, Falco ends up playing a game he wasn't designed or assigned to be. To me Falco was supposed to be an anti-zoner, but now he's playing a punisher and boxing game which he is good at, but he doesn't excel at like Little Mac and Ganondorf who have the durability, power, range, speed, and/or safety to do so. If King's projectiles were butchered, say more startup, end lag, less damage, shorter travel, etc., she could end up in a position like Falco in SSB4, but SNK makes fighting games dedicated to fighting games enthusiasts, so they will cater to a smaller community. King will always function well, but Falco has gone through ups and downs, exploited two games, and is now ended up in this Limbo state of what is Falco supposed to do to fight?
The theory is his Blaster is supposed to force approaches from afar allowing him to fight close up. Falco was designated as the anti-zoner. His close up game allows him to be a boxer and his raw damage and knockback allowed him to be a punisher. That was Falco since Melee by design. Had he moved faster on foot, he'd be broken with a Blaster like that. With his jump height, fast and string aerials, a good air speed would make him broken. Anyway, things on paper don't always go as planned since Melee and Brawl were heavily exploited by Falco. He became in Melee, a comboer and a rushdowner who halted your momentum with Blaster and comboed you to hell and back with Reflector alongside his other moves. Melee Falco not only forced approaches, but he approached fairly quickly and efficiently. Brawl Falco essentially became a zoner who walled people out unfairly. Add in chaingrabbing and you had a zoner and grappler who was a pain in the *** to fight. Imagine Duck Hunt if Duck Hunt killed more consistently and threw out projectiles even faster. Or imagine Samus, ZSS, or any other projectile user if they could throw out a wall faster and was extremely difficult to manage. ZSS being able to short hop double stun or even triple stun with a timed and positioned Down Smash... Dear lord that would be freaking horrible.
SSB4 Falco functions almost like 50% of what he was designed to be. He can't anti-zone well, but he can punish and box well; 50% is barely functioning while the other 50% is fantastic. Take Zelda whose design isn't that great, but she functions as a defensive, punish character with long range capabilities. She doesn't function well, but she functions as intended. Or Ganondorf whose design works completely and flows with what he is supposed to be doing as a slow-moving, powerful, durable punisher. Or Captain Falcon whose design worked since 64 as a comboer and rushdowner who can punish, but his main game works. Falco's just doesn't; Falco's incomplete as a fighter who has this hole in what he's supposed to be doing.