Demo feels great, so far looking into the characters it's hard to say who's bad as all characters seem at least viable at this point.
Charizard seems a tad weak though not because of his movelist, his movelist is fine in fact, but his power is a bit on the weak side for a heavy character.
ROB I think deserves 5 not 3 Up Bs honestly, and his top should go faster out.
Right now the really strong characters seem like Bowser, Ganon, Sonic, DDD Marth, Sonic, maybe, Toon Link, Wolf and a few others.
Bowser and Ganon strike me as a bit OP TBH, there range is incredible, they are very heavy, have pretty good recoveries, good moves to get through shields and break them, and very good power. Not to mention Bowser's Up B OoS is amazing (I saw the move do 33% damage in the air on someone) and his super armor frames make him a lot like Hulk from MvC except you can L-Cancel his aerials now.
Peach is good, the D-Smash range is not quite as good as Melee however, but D-Smash is considerably better. She looks she's about Mid-Tier, I honestly don't like the Peach in this one as much as Brawl sorry to say. She's missing Glide-Toss which was huge in Brawl and turnips aren't too hard to catch and throw back at your opponent in one short hop, which makes them only useful from far away really. Her grab range is also pretty pathetic....seriously, she's grabbing with her elbow again lol. I actually don't like how much higher her second jump is too, it's near impossible to keep a combo going with now like it did in Brawl. And her range on a lot of her moves is pretty bad, like F-Tilt and especially F-Air. She only excels because of her naturally GOOD moveset.
I love DDD, the character seems potentially OP because of his easy tech chases, basic good options (plays almost identical to Brawl lol) and great killing power, his new F-Air is amazing as well. Did you guys up his Gordo chance BTW? I get them A LOT more frequently now, not complaining but yea it should probably be lowered, I get about 4 a match now.
Fox is weaker than in Melee, he's still fast I'm not sure it's the same though as it was in Melee. Haven't played him much though TBH but I definitely noticed his B-Air is a lot weaker.
Jigglypuff could potentially be a weaker character, but maybe not. She doesn't have as many options as most characters of course, but her options are solid and basic that's what makes her good. She still has a great recovery and all, she lacks as much power, her rest is of course insane but I haven't experimented with hit confirms on it yet.
Falco, I like Falco keep him this way. I like the idea of making him only be able to do single laser.
Wolf is very good, crouch canceling D-Smash is very scary and works pretty much the same way that spamming D-Smash in Brawl did, it's terrifying to deal with and hard to punish. His B-Air while not BAD isn't good either. His recoveries are a lot more solid now a day and I like that he's still able to go through SV from the ledge with his Side-B, keep it please!
Pikachu is ridiculously good he might also have the ability to be a top tier character, IMO, great options, fast and he actually has a good amount of killing power of his N-Air and his Smashes are incredibly strong (F-Smash especially).
Mario is a lot more solid this time around, I honestly think his B-Air needs more range though, it would help him become a good character instead of just solid for me.
Luigi is bad though I feel...but maybe the person I'm playing that uses him is bad lol. He has some good things about him like the ability to do an aerial pretty much right after tornado is good for him and works as a mix up, but his range is small on his F-Smash still and his recovery is terrible. Does tornado raise him in the air or has that stopped from Brawl?
Ike seems really good, he has a lot of power and he can L-Cancel all his powerful aerials, with that range makes him very scary. Also with Ike I noticed he can grab BEHIND him sometimes, not sure if all characters can do this, but I've seen it twice or maybe three times with specifically Ike grabbing characters behind him now.
Sheik is Sheik from Melee, which is very good except in two instances for me; charging needles, is it really necessary to keep that you must hit L to stop charging needles even when they are fully charged? Also tethering with Side B? Why take it out? The change from Melee to Brawl made sense and was very useful, I don't think taking out makes sense right now. I feel this is just for the sake of Melee and not for actual gameplay's sake. She is very powerful and has very good tech chases, good range and her Up B works even better than in Brawl (bigger hitbox no longer causes that wind effect so it can actually kill even while sliding I believe). She can still do sliding vanish with it, which is good and a fun way to get to the ledge.
Captain Falcon is just like in Melee, very fun character just right for me so far.
Lucario honestly seems a tad weak, but again I don't play him much at all (don't like the concept for me) but play against someone who plays him, I notice I can interrupt him with attacks or a grab between his links on the magic system, is this suppose to happen? His "super" is also not as useful as it may appear, it has a ton of start up, which in this game means it has to be used from far away, at that point it's not too difficult to avoid, but perhaps again my opponent is just simply not as good. (We are both still learning)
Sonic seems very good to, in fact he's probably top tier, I'm 90% sure he's at least High Tier in this game, the fact that he can link almost anything off his Side-B to N-Air or B-Air means easy kills and he's very hard to actually hit on certain stages in fact any because of his speed and how good his mobility is. His recovery is also pretty good in terms of actually getting back to the stage and it's mix up.
Lucas seems like a mid tier character in this game, very possible early kills with charged smashes, but his Down B isn't as useful as it used to be, and his Side-B isn't anywhere near as good as it was in Brawl. I like the ability to hit with tether now and I'm pretty sure the grab range has been extended now to actually be worthy of a tether recovery.
Also not sure if this has been discovered, but if you crouch cancel a dash on the ledge and spin the stick in the other direction, your character will instantly grab the ledge, this way you don't need to wavedash backwards to the ledge or jump back. Works almost exactly the same as in Brawl's ledgegrab except this time you have to spin the stick and you have to have a running start so you're not in the initial animation of dashing. Very useful technique.
Only played this for about a week so far, so I'm still testing stuff out and seeing how it is. Really fun though and I actually like it more than Brawl!