It's really...fricken...hard. But in no way is it actually impossible.
I've teamed with a pika/mk main numerous times. In my experience, it's just extremely difficult. There's so much working against bucket teams that it's hard to get off. You obviously can't just sit there and bucket, the opponents will...not...let you.
The moment they see your bucket come out, both opponents are coming straight for you. It takes 72 frames to put that bucket away after absorbing something so they have MORE than an entire second to get into position for their free smash. The obvious answer is to throw them both away then start bucketing.
That may be true, but take a step back and look at it realistically. How often does that really happen? I know there's times when your down smash hits both of them and like, one gets sweet spotted and the other gets sour spotted, but how often DO you hit both of them hard enough and far enough to give you the opportunity for a free bucket? They're far and few in between, and you also have to factor in that at that time, you may have the opportunity to kill an opponent. That's when quick decisions need to be made: Kill one? Or Kill one/both later? I know there are quite a few projectiles that will kill at zero, and many that don't. Some that fill it up fast, others not so much. In the case of pika, we often only got one or two at a time before both of them were on us.
Skill. Another factor. If you get over the hurdle of even getting your bucket full without taking 90% damage, you still have to hit with it. EVERY team I fought always called out to each other "HE'S GOT OIL," and they started playing much much much more carefully. You can't just surprise people anymore with oil, you have to look for opportunities to hit...and while your searching for that opportunity, you CANNOT bucket break, which is IMMENSELY important to GaW's survivability. And since they know you can't absorb anything, they unleash their projectiles to black out the sun. (SPARTAAAAAAAAA).
Also, don't hit your team mate with it XD.
I'll write more later, but class is ending. Even though I basically bashed the idea of making a bucket team, and, again, it's not impossible. It's just and uphill, difficult strategy with many factors working against you. But that doesn't mean it cannot be done. I'll see if I can't find some videos of friendlies I've done with it.