The other thing is that when discussing stuff like this, I would prefer it if some research is done and consideration for the game and the other characters. I say this since it's very easy to just say, "Falco's recovery -- (end) lag as more commonly called in Smash -- on his moves are high." It's actually not true. His recovery / lag on his moves outside of Blaster, Falco Phantasm, and Reflector all of which are Specials, so that has to be taken into consideration, are average like other characters. It's a bit harder to see, but everyone in Smash has similar recovery on their moves. Of course, there are some moves that have lower recovery or higher recovery. Not everything is the same or should be.
I feel like a part of that problem comes from Smash not showing or using recovery frames when character frame datas are compiled. Instead, FAF or, even more rarely, total frames are used and that doesn't really tell the whole story. Oh look, Character X's Utilt has 31 FAF. That's awesome, but then you look at its startup and active frames, say, 3 startup, and 2 active, so it would hit 3-4, and you'd realize that it has 27 recovery frames. Not really good, but not really bad. Now, let's say its startup is 12. It would have 18 recovery frames which is really good even for a tilt. Basically, a Ganondorf Up Smash of high startup, but low recovery. This is an outdated spreadsheet I made listing everyone's recovery frames:
https://docs.google.com/spreadsheets/d/1vclrFU6Kh-UONoHWqp9qsow86FnQyT5RvlskKEDqxr8/edit?usp=sharing. It's got some issues since I messed up some stuff, but everything should hopefully be within a 1-2 frame error. Explanation for that is that I was kind of new to frame data and I prefer to use total frames instead of FAF which probably lead me to adding or subtracting 1 frame from stuff; FAF is total frames + 1 and I think FAF is kind of pointless since it doesn't take much to assume that the next frame is when you can act. I think someone else has a more up to date one... I think LordWilliam1234 made one that includes everything and not just recovery frames.
If you want another example, take a look at any of Smash 4's character frame data and compare them to someone from Street Fighter V. You can take a look at Ryu's standing light punch, "Stand LP", and you know that it's a frame 3, 2 active, and 7 recovery move. Boom. Simple. Look at Ryu's jab 1 and you'll see it listed as frame 2-3 with a 16 FAF. Not as simple -- for me at least -- or as detailed compared to SFV's setup. SFV Ryu's frame data:
http://wiki.shoryuken.com/Street_Fighter_V/Ryu.
The other thing comes from that and it's no fault of anyone -- really, it isn't --, but there is a tendency for people to ask for buffs and nerfs without considering the effects thoroughly. Stuff like Ganondorf needs to be much faster or Sheik needs to nerfed hard tends to come up. I'm not asking you to be seasoned game developers, but to just consider what would happen if something was changed. For me and in regards to Falco, this is major. Why? I want to ask all of you this: is a frame 5 Dair with 4 active spike frames not overpowered? In Brawl it had 3 while in Melee, it was all of its frames with the other half being a late, but weak spike similar to how Zelda's Dair works in Smash 4 or on PAL Melee, the late hit would be a 361 degree hit -- still is a 10 active spike. Before you start to answer, consider that it was one of the fastest and strongest not to mention one of the longest-lasting spikes in the series and that's not a lot since I can only think of Marth's and his was frame 6 in Brawl and Melee followed by Ryu's 8, very short-ranged spike with a sour-spot. The rest, especially in Smash 4, have Dair spikes or Dairs in general that are +14. Had Smash 4's Dair been around frame 10, then sure, frame 5 spike might be okay -- still pushing it in my opinion --, but not now. You'd have to lower, I don't know, +30 characters' Dair startup and that could lead to massive problems. Freaking Captain Falcon and Ganondorf with a frame 12 Dair or Samus with a frame 10 Dair and she's one of the few characters who actively use her Dair for setups.
I would argue that what the developers did in Melee and even Brawl with Falco (and Marth)'s Dair was a sin. It basically said screw you to game balance and game design since everyone else had much slower spikes or Dairs in general.
Other moves that come into question for me would be his Blaster and Falco Phantasm. What the developers did to Blaster in Smash 4 was both justified and unjustified. Justifiable was that it, like Dair, flew in the face of basic game design. What existed in Smash 64 -- it was Fox's Blaster --, Melee, and Brawl was a projectile that had relatively low startup, very low recovery, pretty fast travel speed, essentially infinite range, and could fire repeatedly in part of its low recovery and the fact that there was no limit to the amount of times it could be fired and the pretty high rate of fire. Blaster was broken. In other fighting games, recovery can be low, but something has to give like it has short range, high startup, or low travel speed and you'd need to spend meter to be able to fire a projectile more then once. In regards to Smash, because it does set knockback, firing continuously is pointless since it's Smash, why are you sitting there doing mostly nothing. You're doing damage, but not knockback, the main focus of Smash. I have similar feelings towards rapid jabs, but that's another story. Unjustifiably, however, is after removing auto-cancel on Blaster and other projectiles, they just straight up left it as is from Brawl. The high recovery? Yeah, Brawl's fault. Melee had average recovery at a price: ground Blaster had double Brawl and Smash 4's startup, but that's fine, especially compared to now. Would you rather have a frame 11, 48 recovery projectile or a frame 23, 35 recovery projectile? Brawl's decreased startup, but didn't touch the total frames from Melee. Smash 4 ported Falco over and a bunch others. Can you blame them? 50+ characters and I'd argue many of them had their problems to begin with.
Falco Phantasm is simple. Largest spike in the series. Still is the largest spike in Smash 4 despite its halved hitbox. Why? Brawl even managed to buff it. Really? Yes, it's slow like other spikes and it's not strong, but it's giant. It also debuted in the game where fall speeds were much higher. One touch from Falco Phantasm was likely death. At least in Brawl and Smash 4 fall speeds are lower and mostly for Smash 4, aerial jumps and recoveries are higher, but still. I think it should have been reexamined since the concept is, in my opinion, broken. Reference DACUS if you have to for a Side Special. It's quite curious considering Falco actually performs what looks like a DACUS in his intro cutscene in Subspace Emissary or just alter the angle. Oh look, it sends people flying behind Falco. Less problematic than spiking people... Meanwhile, Fox Illusion getting nerfed in damage in each game...