bite alone poops on smash 4 meta because shield is such a big part of the metagame.
Fart is godlike in a 2stock format, with numerous inescapable set-ups.
Almost impossible to gimp. I'd say he has the 2nd best recovery in the game.
Aerial mobility rivals that of Yoshi and Jigglypuff
Rep is low but those who do main or use Wario almost always place high. (see Reflex, Abadango, Jeepysol, etc)
The only thing Wario lacks is range. Which isn't much of a problem.
Also if you think Wario is lackluster without the fully charged waft, the 2/3 charged waft comes out on frame 3 and still kills at 60% with guaranteed sheildbreak options