I searched a ways back in the thread and have seen nothing about you promoting a ban on MK. Therefore, I will use this as your reasoning as I try to make an argument.
Being the best character in the game is a double-edged sword. There is the benefit of being able to cycle through the entire cast without having to face a character that generally beats you, but at the same time, everyone is going to focus on your character. At this stage of the competitive scene, if you haven't learned to beat Metaknight by now, you're getting nowhere. Yes, every character has other matchups to worry about, but considering how much more Metaknight is used than anyone else, people are going to study ways to beat Metaknight much more extensively than any other character. Banning Metaknight now, especially when no other area near us has banned him, is only going to stymie our efforts in stopping him, and when Metaknight is going to be in every significant tournament, we will only get hurt in the long run (yes, this has been said before, but it bears repetition)
Additionally, the fact that 'two players have picked up Metaknight since the last bi-weekly' doesn't prove anything if said two players are insignificant in regards to these bi-weeklies. In the three bi-weeklies that have happened this year, only one person outside of M2K (since he's part of the absolute top players echleon that is outside the realm of Metaknight being broken) has reached the top eight. That is hardly considered domination. The only Metaknight main that has used him enough to even warrant discussing is Xzax, and I seriously doubt that anyone is complaining about him winning/playing it closer than it should be simply because he's using Metaknight (I have yet to play Xzax, so I have no opinion).
If there is one thing that can support a Metaknight ban, its the fact that offstage, Metaknight is completely broken. I will give you that one. If played correctly, there is no way to gimp a Metaknight, and the offstage play is half the battle. Take a look at this video from approximately 3:26 to 3:30-
http://www.youtube.com/watch?v=pWZAkU_UYak If Metaknight ends up getting banned, his ability to return from virtually any part of the stage will be the reason. There is nothing fundamentally wrong with Metaknight's attacks. Tornado can get bypassed. Shuttle Loop can be predicted and handled with. His aerials are fast, but nowhere near unbeatable. Besides, there is no one way to play Metaknight. The reason that people say that Metaknight doesn't have a bad matchup because the character is versatile enough to play aggressively or defensively, but usually the player isn't, especially at anything but the top levels of play. Aggressive Metaknights probably can be beaten by certain characters, and Campy Metaknights might be beaten as well. The fact that Metaknight is light actually exists as a weakness because not many people can have godly amounts of DI and momentum cancelling.
I want to know your precedent for a MK ban, especially since Philly has never done it before. Removing a character does not advance a community; it proves that our community doesn't want to deal with the best character in the game, so it removes the problem. That is certainly a cause for weakness, not for strength.