I think custom moves have the potential to add a lot of depth to the metagame, and I definitely think that they should be considered innocent until proven guilty. They are a brand new aspect to Smash Bros., and arguably the most revolutionary thing to be introduced to the franchise in years, which is why so many people seem afraid of giving them a try.
From what we've seen, custom moves are designed on a trade-off system. Each custom moves takes something away from the default special (speed, power, range, etc) and enhances something else (speed, power, range, etc). As a result, no custom move will be the best option for a character because that one move lacks something that the other two variants have.
This even applies to most of Palutena. Autoreticle is her default neutral special, which, from what I can tell, is like a delayed laser. Explosive Flame is an alternative. This one keeps the delayed trait, but lacks in range as it only has a single hitbox. However, it's a stronger move. Heavenly Light is quicker to start up than Autoreticle and Explosive Flame, but it causes no knockback. Her up specials (Rocket Jump is the only one that does damage. Jump Glide and Teleport are more flexible than Rocket Jump, however Teleport is outranged by Jump Glide, but Jump Glide is slower), as well as Super Speed, Angelic Missile (super speed does more damage, but has less knockback than Angelic Missile), Celestial Firework and Counter (Celestial Firework is consistent close range damage, whereas Counter has more risk involved).
From what we've seen, custom moves are designed on a trade-off system. Each custom moves takes something away from the default special (speed, power, range, etc) and enhances something else (speed, power, range, etc). As a result, no custom move will be the best option for a character because that one move lacks something that the other two variants have.
This even applies to most of Palutena. Autoreticle is her default neutral special, which, from what I can tell, is like a delayed laser. Explosive Flame is an alternative. This one keeps the delayed trait, but lacks in range as it only has a single hitbox. However, it's a stronger move. Heavenly Light is quicker to start up than Autoreticle and Explosive Flame, but it causes no knockback. Her up specials (Rocket Jump is the only one that does damage. Jump Glide and Teleport are more flexible than Rocket Jump, however Teleport is outranged by Jump Glide, but Jump Glide is slower), as well as Super Speed, Angelic Missile (super speed does more damage, but has less knockback than Angelic Missile), Celestial Firework and Counter (Celestial Firework is consistent close range damage, whereas Counter has more risk involved).