I don't care if an unlucky bob-omb spawn is often deadly. It's funny and interesting. You will never make items tournament standard, so trying to achieve some kind of "balance" is pointless. The people who want to play with items want crazy. Crazy is not watching a sheik out-skill a diddy with a beam sword. Crazy is getting 3-stocked in a 2-stock match because everything possible was horrible and hilarious.
That's not what this project is about. This project is about making a
competitive item set. No one will want to play in a tournament that isn't competitive. Would you put $20 into entering a tournament that you know you could very well lose due to random happenstance? It won't matter how flashy and hilarious a bob-omb death is
if there's no one playing the game to have one.
Compare Chess and Rock-Paper-Scissors. You can watch Chess. You can see the wheels turning in the player's heads. There's drama, there's intensity, there's intrigue. You as a viewer are wondering how they're going to adapt to this new situation, and they'll either succeed or fail. It has a narrative in every move. This is a competitive game. Contrast Rock-Paper-Scissors. Sure there's
some strategy, but at a sufficiently high level, games are decided by random chance. There's no narrative, there's no drama, it just happens, then it's over. A player can say "I shoulda picked rock" and we'd know
with absolute certainty how that would have played out. In Chess, you can say "I should have traded my Queen for that Rook." and
you still woudln't know if that would make a difference.
With non-committal, zero-counterplay items, you can have situations of "I would have won if there wasn't a bob-omb." and know at times that that's an absolute irrefutable truth. However, "I would have won if he didn't go for the beam sword" is not 100%. There's counterplay to the items that are legal. None of them are single-handedly a game decider.
You say you want crazy, I counter you with "you want
interesting". Bob-Ombs and other non-committal items can have interesting situations, but they can also
remove interesting situations, and they are just as likely to do either. If you were to watch a tournament of highly skilled, highly trained players in both item sets, I can almost guarantee that you would enjoy the smaller list more, whatever you may
think you want. If you want complete and utter chaos, why not watch a match where the characters are controlled by a random number generator? RNG comes up 1, player 1 inputs a forward smash. RNG comes up 17, player 2 does a dash-grab. It would be boring. Things would just happen with no rhyme or reason, and there's not a satisfying narrative there.