j.2c was mega busted, but it was hardly all rachel had in the form of being really good. They made her almost unplayable first loke test, but they did give her back frog combos, and well, you're kidding yourself if you think the pumpkin and lobelia's disappearing when rachel gets hit make her bad, it makes her a little more fair.
From what i've seen from the 3rd loke test, Rachel is like a mid tier character, or mid low. But she still has a mixup with j.2c from what i've seen, which is good in it's own right. Not being able to j.c it just means you can't mindless sit there and get free mixups with no risk.
All of this doesn't matter at all though, since Bang is going to win everything there ever was ever.