I'll admit, he has some good attacks... but almost every character has SOME good attacks. The thing that would stop Cloud from getting any higher than tier 4 imo is his poor recovery, (apparent) lack of good set ups and high damaging combo's, and his Lack f any efficient combo breakers. None of his aerials or specials come out fast enough to interupt the oppnents strings. He lacks a solid combo throw past low percents. Strong kill moves are cool and all, but when it becomes purely read based on whether you can hit them or not... at high level competitive play it adds up to him being rather lackluster. But like
@MentalDaemon said, most of this is speculation at this point because he's only been out for a day