Snake's recovery is one of those things I find that several people overrate.
Snake's recovery is ONLY good in terms of distance.
It isn't exactly bad in the grand scheme of things, but has the most severe blind spots of all recoveries, which I believe most of you should understand. However, to sum it up, Snake cannot autograb the ledge, the Cypher moves fairly slowly, and while Snake can cancel the Cypher, his air game is horrible usually forcing Snake to air dodge to the stage (and mind you, many times, air dodges = setups for being hit even in Brawl). And there are a lot of characters that can easily set Snake up into a blind spot, which usually means chaingrabbing Snake off the stage or using a throw that keeps him really low, which of course makes him a sitting duck for anything, and spikes or Cypher grabs are probably the most popular options from there. This makes up Snake's 6 or so BAD matchups, and maybe a few more not so good matchups.
Honestly, I see Snake's recovery as one of his biggest downfalls aka a legit weakness. I see it this way because his recovery is actually THE WORST IN THE GAME in specific matchups. DDD, Falco, Pikachu, ROB, and Wolf are pretty lousy matchups for Snake, and mostly its because these characters can pretty much destroy his recovery like they can to no other character.
Even in the fairly unlikely event Snake survives a spike, he will have to use C4 to recover, which will pack on a ton more damage or at higher percents kill him, and this doesn't guarantee he won't be intercepted again depending on how he DIs.
Oh btw, it only takes an attack that does more than 7% in one blow to hit Snake off the Cypher (fractions of a percent count. An attack that does exactly 7% will not work. One that does 7.1% will).