I don't see what everyone is whining about. It's a new game. I want it to be different from melee but still awesome.
As long as there's DI, and the game isn't filled with characters that are too weak or too powerful relative to each other, there'll be room for competition.
Different characters are going to be good. There's probably at least another 20-30 characters that were not in the demo. We don't know yet how good they are in relation to the ones in the demo. Just because Metaknight seems powerful in relation to the demo characters doesn't mean that he will be in the final version.
Just because aerial lag is reduced in general doesn't mean that no one will ever get grabbed again. As long as there is a shield, there'll be ways to pressure your opponent into shielding so you can grab them. If they always buffer a sidestep after approaching with an aerial, that'll be punishable too. And who is to say that there won't be new advanced techniques discovered? they've only had the demo of the game for one day. Many of melee's advanced techniques took years to discover and implement.