@cactuar
In most traditional fighters you can camp by playing defensively, but if you are running away then you are forced into a corner or to jump which most of the time is a really bad situation. Smash has more freedom when it comes to movement. Running away, especially on many stages due to platforms, becomes a viable stalling tactic. This changes the overall metagame of how matches are played in general.
At the beginning of a match the low timer encourages aggression, but because the timer is so short, that means that once you gain any solid amount of percentage lead, then you can just run away for 30 seconds to a minute and win. If you have a half lifebar advantage on your opponent in a traditional fighter and plenty of room to retreat, and there is only 10 seconds on the clock... what will you do? Any good player would go for the timeout. In smash, because you have so many movement options, on many stages they can run for much longer without risking much.
Look at it this way, the matches will have a different dynamic. It will be fight until you get ahead, then avoid the enemy for a short time. Even if you don't play like that, you will have a hard time deciding hmm... 1 min left and I'm up 80% what will I do? In a tourney match when money is on the line take a guess. The new metagame will consist of running away at the end of matches which is like... lamer than ever to be honest.
Is this the metagame that this ruleset is trying to realize? because if not then it doesn't accomplish what was originally intended and to be honest it seems a lot less competitive. AKA I compete and think for a small portion of a match (30 seconds to a minute depending on how long it takes to gain a considerable lead) and then after that I try to avoid you and run away
Look for the tierlist to change based off of how well a character can avoid the opponent instead of being based off of how well they are able to KO. Characters like Pika and Mewtwo etc will get a large bump. Characters who are high tier because of their ability to get KOs won't be so much better because a character's ability to keep away is much more important now. If Jiggs lands a single upthrow rest he can then just run away the whole game. Expect to see a lot more shino stalling, planking, running away. Chaingrab heavy characters... wobbling even used to stall out excessive seconds of time off the clock etc so that after a single grab, instead of just being guaranteed 1 stock, they are almost guaranteed the match due to eating up the clock in the process.