Let's just take a moment to recognize that, in all of the potential nerfed glory of Bayonetta, the game is and has been very balanced now for a while. Yeah some characters are more viable than others, but anyone can be played well and as a whole there aren't too many unwinnable matchups.
Anyways, I think that Bayo's got a mid-tier matchup spread but a high tier potential. She's gotten much harder, some of these combos I've seen are harder than Ryu's, and certainly harder to set up. I wonder who's next on the chopping block if anyone. My first guesses are Rosalina, Cloud, or Sonic, but for all I know it might be none of them. I guess only time will tell, but in the meantime we'll just have to git gud.