I tried playing wobble-heavy ICs for a while and while I could beat random bad people I still got ***** by good Peaches (and bad Peaches) and to a lesser extent Samus, Marth, and Fox players. Then again I'm not that good. But I've never heard of someone good losing to a bad ICs player who wobbled. Some particular matchups that were previously even or close to even (Sheik, Ganon, CF for example) shift to ICs favor when wobbling is allowed, but at best this moves ICs up a couple spots on the tier list.
There are a lot of mistakes in this game that can cost you a stock. Some of these cause you to lose a stock very fast (getting shine-spiked, fast-fallers getting grabbed near the edge by Marth, not DIing Jiggs' uthrow rest, etc.) while others take time (getting CG'd to death by Marth, wobbling). Wobbling is perceived as much more frustrating because it takes a long time to finish the stock and in the mean time you have virtually no chance of living. If Marth throws Falco off the stage you can try to get back but in reality if your opponent is good you are more than likely already dead. My point is that if you are grabbed by synched ICs at mid-high damage, you should consider your stock already over. You made a mistake and you got gimped.
This is a fairly situational gimping--people saying you shouldn't be able to convert stocks from grabs 100% of the time are highly exaggerating the situation. You can't compare the ICs grab game to any other character, because their range is garbage and they have to be synched up. If Marth, Fox, Sheik, or CF could wobble, yes it would be incredibly, unbelievably broken. But that's because it is much, much easier to land a grab with these characters than a synched grab with ICs against someone who actually knows what he's doing.
So there's not really anything unique about losing a stock at mid-high damage from a grab, except that the ICs can do it against every character and it's easy. However I think it's a mistake to ban something because it's easy, because even if wobbling were considerably more difficult, good players would be able to do it regardless. The difficulty of a technique really has no bearing on the technique's effectiveness unless the technique is extremely difficult, because otherwise people will master it anyway.
The real problem is that some people who aren't very good and don't know how to fight ICs find themselves getting ***** by bad ICs who wobble. At INN V last year playing friendlies I beat some people pretty badly who in all honesty were better than me at the time. But we were all relatively bad.
With wobbling, bad ICs **** bad anyone else (except Peach). And the majority of Smashers are relatively bad (mysef included), so it's not surprising they view this technique as incredibly broken when in reality they just don't want to implement the counterstrategies.
