i disagree with almost everything that's been said.
snake used to be good because he'd kill based on less punishes; 6x21% (average punish) would put most characters at kill %, while snake would need to be punished more times to accomplish the same, given his weight and comparitably worse kill moves of other characters.
over time, most players have established ways of punishing snake considerably worse than he can punish them, evening up and changing mus in the process. mks learnt that, due to terrible air options, heavy weight and large hurtbox, one solid juggle/combo/string could actually kill snake, or at the very least, give him some 70%. diddys, falco, marths, d3s, olis and warios quickly followed suit.
then the punishment aspect of snake's game was actually blown out of the water; other characters began punishing him more than he was punishing them. and thus, despite the fact that he was living to a higher percent, he was still dying much quicker than most other characters.
the one thing that keeps snake kicking in this game is his disgustingly variable and pressuring camping game. snake almost outcamps the entire cast, and is the only character who can apply heavy pressure and even ko from the other side of the stage. his game is based on his explosives, essentially.
and this is where the metagame is right now, snake outcamps, forces apporaches, and pressures players into making mistakes. tilts are a nice addition to his arsenal, but are by no means an overly important part of it. hell, dthrow is a much better punish option in almost every situation.
if snake can set up a zone, and maintain it for long durations of time, he should win. but one mistake, letting your opponent through one time, quite often means a snake.
a perfect snake wins everything. but perfection is impossible.