You seriously way overestimate his abilities. His aerials are no more good and useful than Fox or Falco's, Ike's, Pit's, Luigi's, Mario's, Falcon's... I could go on.
Pretty much what I bolded is what I agree one. Those things are unnecessary to be as good as they are. But consider also what good options other characters have too. He has to have something that kills decently or he'll just be a combo machine with zero finishers and an average recovery. The active frames on his grab are really only bad on his dash grab, and even that offense is so minor, it's hardly worth calling him OP for. In general they don't last that long and are risky to even pull out because of how much cooldown they have. If anything, Lucas has to chase you down intelligently against good players for a solid grab.
In my opinion, his recovery is perfect aside from his limitless use of magnet stall. If you gave it a one-time stall like Mario's cape, it'd be fine. That way, he has probably one good chance to get back on his own while not having a half-Samus recovery. Again, you really overestimate him in this department, though. But even so, it's not that hard to stop him if you know where to intercept his his stall, and his tether is really vulnerable. Sure, he'll probably have a chance to punish you if you go too ham offstage, but it's nowhere near easy-peasy.
lol at "his average combo is 45%-60%. Yeah, he has some of those, but a lot of it revolves around OU usmash being too damn good and huge and doing half that damage in a single move, which is why I want it toned down in the first place. If we're gonna compare Falco, maybe I should talk about how you can hit with his dair pretty much anywhere for a good period of time and get a spike kill at 45%, or how his lasers are relatively easy to manipulate your opponent around once you get a feel for them. Plus, they come out way faster than Lucas can ever dream of pulling out PK Freeze, and multiples, AND they go much further. I mean, any character's really good...... if the player is good. Which, I thought was the point. But, imo, some of them reward too much, some too little.