To me, it's like this. They gave Pit a lot of combo potential, and a lot of ability to kill early, combo into kill moves from a grab, combo into gimps, has a good recovery game, and has a great gimp game too. But at the same time, if people play against him right, it can feel like Pit is just free, so with that being said. I do think he's top 8 material, but I'm still giving people time to figure out what Pit can really do, and his potential to be shown in tournament.
So, I'm still waiting to see what Pit's metagame is gonna look like, but I can guarantee you, Pit doesn't need to camp to be shown as a good character, it just adds to his overall gameplay, which is why I call him such a silly character sometimes. I wouldn't say they went overboard with him, they just gave him more tools than he needed.