I think a large part of people thinking recoveries are "too good" is that they aren't used to new character recovery moves and don't always choose the right option to punish it.
I can definitely agree with this statement. Personally, it feels like the developers of the game didn't want to step on any toes when putting together the full cast's recoveries. Even though I'd say that this game is geared much more towards melee players, it is of course trying to bridge the gap and bring Brawl players over to the fast-pace style of M's gameplay. One thing; however you put it, recoveries across the board were relatively much better in Brawl than Melee. So, in translating the characters to a melee-styled game, they kept a lot of the "Good" recoveries from the brawl cast, and comparatively they may seem a bit much. I was having the very same conversation with my friend recently and I mentioned that there are easily five characters that come from brawl who are contenders for "the best" recovery if they were instead in melee. I can't say that I'm the most knowledgeable player or know the exact statistics or placement of recoveries in melee, but from what I've put together the top 5 are probably Mewtwo (although underused), Peach, Jigglypuff, Samus and Link (each having their various reasons [massive single and double jumps with an impressive up + b, float + stalling up + b, near infinite horizontal recovery with rising pound and 5 midair jumps, excellent horizontal recovery through bomb jumping and grapples], respectively). But, the brawl cast brings along characters like Charizard, Diddy Kong, Snake, Sonic and Ivysaur. Hell, even ZSS, Toon Link and Dedede are up there. Though it may seem like these recoveries are seemingly overpowered just because it is something that a lot of melee veterans are unused to, it's undeniable that it allows for some dangerous play from the brawl cast which is relatively safe considering some of the situations they put themselves in offstage. Calling out my goofball of a training partner here where one of the only differences in our playstyle is when I go deep for a kill offstage and am unsuccessful, even if i'm in range of reaching the ledge or stage practically, my immediate thoughts consist of "censored, censored, censored, i gotta' get back right now or i'm done for!!" and his are: "oh, i missed? let me jump and try for another downair, again??? i guess i'll use my third jump... well, i still have my up + b with an average vertical recovery." Coming off as a butthurt, melee player is not my intention. I just am putting it out there that I agree recoveries in general are better than they are in Melee. Of course, some of the veteran characters were given improvements to their recoveries like donkey kong and bowser, but it pretty much goes unsaid that they were almost necessary along with other improvements to make these characters tournament viable at highly competitive levels. With that, most of the top tier characters from melee had their recoveries unchanged and before I start sounding repetitive, they just seem to be lackluster in comparison to the P:M definition of "best recoveries". With all of that said, I don't think that recoveries should be nerfed across the board or even selectively for brawl characters. It's just something that everyone will have to get used to and once things get figured out, will be just as punishable as any melee character. Once you're offstage, it should be a bit of a struggle as you are in the worse of the two situations, but keeping you offstage as the character defending the stage shouldn't be free.
optional to notice: this is all opinionative, of course, uhduhh