Heck pichu is low in melee because everyones a ***** and is afraid to even touch him. and everyone will give you terrible advice on how to play as him like don't touch your self hurting moves on that's basicly takeing away half your moves, no always land your self-hurting moves, take his fair it gives you a free grab which is amazing when you have 2 chain throws 1 techchase and a solid laucher.
he is light and chain throwable so it falco but pichu can't be or is hard to camp, combo,hit,edge gaurd,juggle,pillar,and waveshine unlike like falco hmm. which is the better trade,
pichu has more ways to appraoch than pikachu by useing his up-B, pichu is really fast and really powerful only a fool would argue otherwise.
he has poor range, but he is fast and powerful hard to predict, has projectlies, mindgames, and with a good defence which pikachu dooesn't have.
I,m not saying pichu is high or anything but he should be a little below pikachu and he is a legit fox /falco counter they can't camp,juggle,waveshine,gimp, and pichu can use any air move to get a grab and chain throw or juggle them to death or easily gimp.
but i,m crazy so F*** me. and yes a covered his flaws but his pros which are pretty high and I didn't count any of the small details like 2 frames of landing lag because no one really uses them.