To a casual player the ban might be confusing because Pit, Ike or Fox might seem like the best characters. But the way Meta Knight is used by competitive players allows him to perform virtually any offensive or defensive maneuver with a very small risk of being hit by anything significant. Meta also has multiple jumps, the ability to glide, quick and powerful KO moves, 4 options for a safe return to the stage, the ability to gimp with ease and other things that put him in a tier of his own. All that stuff has allowed him to become the dominant character in the Brawl community (even though only one guy was winning every tournament as Meta Knight).