Just because infinites are a constant doesn't mean it's okay, even if you know how to fight against it, it still wouldn't make it okay, do you really think it's interesting to see Pikachu going back and fourth zapping a guy over and over until the match ends? Is that really the match you want to sit down and enjoy rather than two evenly matched players trading blows back and fourth to eventually end with something spectacular?
Infinites aren't good, it doesn't matter if you know how to fight against it because it's just not fun to fight against in the first place, yeah I beat this Pikacgu but I wasn't exactly having fun since most of his strategy was trying to lock me in the infinite and I wouldn't want to lose that way, I don't want to win that way and I don't want to win against someone who uses that and I'm sure many others would feel the same way. It's busted stuff that needs patching
And if you still don't get it then I dunno what to tell you.
When playing a fighting game competitively, for money, you use what will get you the win. If that's an infinite combo that makes it a little less fun for viewers to watch, oh well. It isn't for the viewers. You're trying to win money or whatever the prize may be. If an infinite dominates the metagame to the point that literally everyone is using that strategy only, then it can be banned out. But with the difficulty of these infinites, I don't think they should be patched or banned. People jump to the OP argument way too fast.
I feel it's already an unspoken rule not to use infinites or things generally considered as broken in casual play anyway. If you do use something "Broken' then people will stop playing with you very quick.
I play melee at Xanadu pretty often. Nintendude wobbles in tournament games. He wins money doing it. But when playing friendly matches in between rounds or waiting to go on stream for his match, he never wobbles(that I have seen) and he still destroys people. If you don't want to win using this kind of tech, you don't have to. but it's an option that I think should be in unless Meta is defined by this option.
A really good example for something truly meta defining, When the card Jace the Mind Sculptor was released in MTG.
"The Standard metagame is stagnant and unhealthy at the moment, and has been for months. Jace, the Mind Sculptor is appearing in winning deck lists an alarming percentage of the time, with Stoneforge Mystic appearing almost as often. For reference, 88% of the decks in Day 2 of Grand Prix Singapore contained multiple copies of Jace, and almost 70% of the Day 2 decks contained Stoneforge Mystic. The numbers from Pro Tour Qualifiers and independent large events like the StarCityGames.com Open Series look very similar." - MTG article on why cards were getting banned in standard in 2011
Just fyi, no card has been banned in standard format since these two were banned in 2011. There were plenty of infinite combos around but none meta defining. I know MTG is different than a fighting game, but if anything it's more difficult to infinite in a fighting game were you have to react very quickly and precisely. If in smash 4 tournaments 88% of people are using pikachu with this custom set, then sure, patch it or ban it. Unless it reaches meta defining numbers, however, I say leave it be.