Actually, Link vs Spacies isn't that bad of a matchup anymore compared to what it was in Melee. This is coming from me playing A LOT of Link vs Spacies against various people in friendlies and in tournaments.
Granted that it's still bad though. Just not as horrible as it was back in Melee.
He has faster mobility, his projectiles has more range than they did in Melee (especially his arrows and bombs), and his recovery is better (at least I think it's better than it was before). And I think a few of his moves are also faster which enables him to beat out most moves that spacies throw out, mainly using his Nair.
And as for Link's nerf in 2.1, he needed it. His chaingrab was beyond stupid since he could literally do standing chaingrabs that require little to no effort involved. Not only this, but the knockback growth was less than it was now. Which made it extremely easy to do 0 - death cgs. And as far as I'm concerned, this was one of the major nerfs that Link had in 2.5b. His other nerf included his boomerang (which isn't too bad now imo).
Coming from the same experiences here bro, and I manage to get the spacies down to 1 stock most of the time, but a good amount of the time I get 2-stocked, and Link is my best guy, I've been playing him since demo 1, Zelda I started playing seriously like a month and a half ago and I do much better against spacies with her when I don't even have the character fully down yet.
His mobility is still crap compared to spacies, they can literally run circles around him
Projectiles having more range really does nothing, it just ensures that a spacie can reflect it with their down-B and (in the case of Fox and Wolf only since Falco can immediately jump out of a reflected shine) have time to end the reflect animation before you can get to them, trust me, Link's projectiles don't do jack **** against a spacie, you can't even combo out of his boomerang against anyone now unless you hit your opponent with it right in their face, and I mean you have to be right next to them when the boomerang hits, otherwise they'll just DI away and you can't catch them, the one thing I've found even a little useful with projectiles, is taking out a bomb, holding A, and side-smashing when your opponent doesn't expect it, but once they catch on it's pretty useless too
No he actually didn't, I also thought Link's chaingrabs were stupid in 2.1, but after I went to a tournament in Framingham, against people who weren't even that good, I found out Link's chaingrabs really didn't work as well as I thought, people just don't know how to get out of chaingrabs but the fact is, almost everyone can jump away from a regrab from Link's chain in time.
I remember posting a video showing it was possible to start chaingrabbing DK from 0%, well I went back into training mode and slowed things down and I noticed that it wasn't really a chaingrab, what was happening was that sometimes when you down-throw DK at 0%, he goes right into a standing animation when he lands instead of falling on the ground, and the computer not doing anything in training mode, just sits there for another grab
Another thing is I(and everyone else I guess) didn't try DI'ing down and away(off a down throw) and up and away(off an upthrow), doing both of these made it so they would either hit the ground before the clawshot could reach them, or push them into the air enough where they could jump away from a re-grab
I tested it out, and against an opponent who is DI'ing right in demo 2.1, chaingrabs only work on Fox/Falco from (IIRC) 40% - 70% off an upthrow, on C. Falcon, I forgot but the range was only 20% but it's close to Fox and Falco, on Marth, the % range you can chaingrab was only about 10% because he could up-air, side-B stall, or jump away from a re-grab, against DK, the actual % range it works was only about 30% and he's the worst case scenario
On top of that, for any of these chaingrabs to work, you had to time thing PERFECTLY with Link, if you started running in the wrong direction from where your opponent DI's, forget it, you're not going to catch them, so it was risky to even try to re-grab, I can't tell you how many times at the tournament in Framingham I tried to re-grab a C. Falcon, 100% certain I could, only to have them jump up and come down and knee me in the face, trying to chaingrab with Link in reality is a high-risk low-reward situation in 2.1 and even more so in 2.5
You might be saying now that he doesn't NEED to grab people from the air, what I'm saying is it gives him something stupid that isn't out of proportion to the amount of stupid things Fox and Falco have, it helps put him on their level
And his boomerang is no longer a reliable combo tool in 2.5, if your opponent DI's away from you(like they should) when they get hit from the boomerang, unless you're right in front of them when you hit with you're boomerang, you won't be able to catch them to combo them