Thats like saying ryu in street fighter 4 is predictable and "cursed with simplicity." Ryu is the most basic and straightforward character in the SF games, and yet hes always one of the best characters in the game(s).
Ryu excels in SF because he's pure fundamentals. He has very good buttons and doesnt rely on gimmicks.
Cloud works the same way in smash; if you have good fundamentals, you can do well with cloud.
The difference is that with cloud, you dont need to work nearly as hard to get results.
But Cloud doesn't really excel the same way. In a game with reactable powershielding, Cloud suffers from his predictability.
I played some Cloud, I have a crazy high ladder winrate with him because he is easier to pick up and is stronger in lag. But I don't really have trouble with the MU, especially against people who think following your flowchart is a way to win easy. It can maybe get you to GF in a local, but its pretty meh overall if you walk powershield his aerials, since approaches get him thrwacked and retreating aerials eventually gets him to the ledge which is super deadly as Cloud.
Ill concede he is easy at a low level, but above that he really has to be in your head to pull out a victory. You think people don't deserve to die to Finishing Touch when they get daired? That dair is so freaking obvious every time.
Im not saying I can beat m2k, but he could beat me with lots of characters, because he is better than me.