You have an convincing argument, But I ask you, why not just ban everyone who is deemed "Cheap". You must ban all grabbing done by any character that can combo with it. (DDD, Falco, IC, Pikachu, Ganondorf (Downthrow to a facegrab), Marth (Down throw to a short hop fair). In all fairness, With the exception of IC, or Laser locking is infinite. Even then, besides Laser locking, IC need to have good timing after they hit higher percentage grabbing.
Why not ban camping? Because its a viable strategy, the same goes with chain grabbing, In all of the brawl games, there were times where you were rendered helpless in the midsts of a combo because of the games physics system. In brawl, the aerial combat is more flexible now, but your still able to "Render someone useless" with chain grabbing or certain combos. It is something that happens in every game, FPS (Snipers with AWP's camping with smiles on their faces) Other action games (Hadouken anyone? Corner ****** anyone?). It might be frustrating to play against someone who is well experianced in shutting your control of your character down, but in my eye's its something that SHOULD be acceptable.