That would hurt the community far worse (and that's really the only convincing argument I've seen for pro-ban, that it seems to hurt the community. Although limiting him and him alone would be far better for the community).
You could do that...but if you're going to go that route, why not limit him from gliding underneath the stage (even when recovering), using tornado, or any other sort of thing in order to nerf him. Because essentially that's what only applying the LGL to him is doing, acknowledging that he is "too good" without it and need to implement another MK specific rule to prevent him from being too unbalanced.
I haven't acknowledged that he needs those things done. But if it gets to the point where he could get banned for planking/scrooging, limiting that would be much better for community (because not even everyone scrooges or planks) than completely banning MK.
And I think Melee was doing just fine with banning people from stalling with Peach's bomber. They didn't completely ban Peach bombering against a wall, but if you stall with it you'll be DQ'd.
And a full on ban to MKs gliding under the stage would solve it as well (if it gets to the point where he should be banned if that isn't done)
Because it's unfair for Metaknight. We would have to do it to the rest of the cast.
Right. Lets ban the entire character. That's fair for Metaknight.
Wait...
Also after watching how ****ing close Larry got to beating M2K and how well he did on neutrals, the "MK can only CP neutrals" rule seems like a good alternative to banning (if it gets to that point), as well. And really, really easy to enforce.