I agree, Zelda has way more potential than they give her. I've had Peach players who knew how to play peach well, Ganons and even some falcos that were baffled a bit that they either lost, or almost lost to my Zelda. (Almost cuz Falco's still pwn me, Just wait til I completely master power shielding)
It's really all about the player,
Have you seen BUM(DK) vs Isai(Captain Falcon) ?
With a tier list set in your face. you may be right, Fox, Falco, Marth, Peach so on and so forth may be the best characters, but with the mindset like Gustav Wind, People don't pick low tiers or mid tiers as much like Mario and Zelda, because they think it's a waste of time. So, tier list is there. But, the true full potential of the lower characters, aren't all there because anyone competitive already has the mindset that it's best to just start learning a high tier.
I played Marth for a very very long time. And I feel more comfortable with Zelda vs any other character and i only played her for like 4 months. I prefer picking Zelda on Yoshi's story vs Falco, than I do Marth. I prefer Marth on Final D vs falco than zelda though >.> Chain grab is just too broken to ignore.
Besides there's nothing better than having a mid-tier that you know how to play a high tier as, and they don't know how to fight you. I've been beat by alot of luigi's as fox, because I don't know how to F'ing combo his sliding anus. once he's over the edge though I can kill a Luigi, but same goes for me.
It's the player that can unlock a character's potential to show how *bad* or *good* they really are. Tier list does play a role, but it's no where near as huge as the individual.
I mean doesn't ChuDat play Pichu and pikachu and rocks high tier socks?
GAWes said he chose fox vs Chad's pikachu because the pikachu was kicking his CPT falcon butt.
Individual > Tier list.
If you look at the tier list like it's a set of rules,
Characters like DK and Zelda and LInk won't get to shine.
There are a few select who chose to let them shine and they can/could win pretty big tournaments.
Just incase you try and throw the tier list at me as a counter, I know it exists fo ra reason, and it's true, many of the lower tiers have more potential than good players are willing to try for.
Who woulda thought you could combo with Yoshi like FUmi?
Who woulda thought you could combo with Link like GERM?
Who woulda thought you could combo with Pichu like ChuDat?
Who woulda thought you could pwn faces with Zelda like UmbreonMow has been?
Someone chose to search what they could do, and they rocked socks.
that's my opinion anyways.