Since we are talking tier placing I'll throw in my cents:
Link is nowhere near top or high. He is low tier at best. He has bad matchups against the top and high tiers just as in brawl. There are also some absolutely terrible matchups like Sonic, Fox, Sheik and ROB. There is as far as I can tell no matchup where Link is dominant.
People who want to main Link succesfully in smash 4 should pickup where the brawl Link metagame ended,
playing smart. Link's tools are not boomerang, bombs or arrows. It is baits, conditioning and reads. We need exceptional spacing and zoning. We need matchup knowledge and experience. And above all we need tournament experience. If you want to join the link metagame this is where you start:
http://nintendodojo.com/forum/topic.aspx?id=151914