Charizard was never the best at punishing Oos to begin with. Any good opponent will know how to space around shield grabs. Fly is a bit less viable this patch, but only against multi hits. It still works out of a perfect sheild.
Fair was already pri safe on block assuming you spaced it perfectly. Nair might become useful as a shield mixup. For those who might not know, it's much easier to land the sweetspot if you fast fall Nair out of a full hop. Doing so adds a few extra frames of shield stun (something to do with the damage formula). This is relatively safe to do and helps keep your opponent guessing. You only need to toss off their timing by a few frames. If you can get them to miss the perfect shield, you can mix them up with a variety of options from jabs, to grab or pivot grab, to filts, to even rocksmash if they try to attack OoS.
Another small tip worth mentioning is that you can shave off a good 5-10 (<- just a rough estimate) frames of cooldown by delaying your Short Hopped Nairs by a little bit. It makes the move safer on block, and it allows for quicker followups on hit. Certain followups are only guaranteed this way.
We don't have shiek levels of safety when we hit a shield, but we can at least mix our opponents up if we space our moves properly and make clever use of our autocancels. Charizard's gameplan after the patch shifts away from Bait/Punish, and a bit more towards Spacing/Offense.
My thoughts on the patch anyway.
Charizard on paper is much worse because his two main strengths were OOS and grab reward, both of which matter less in the new meta. Granted I haven't had much practical experience with him yet, but this does create big problems for heavies on top of the ones they already have. Ike is the only one with the tools to be remotely relevant in the meta going forward, and the lower tiered heavies could very well wind up being straight trash in a way that no character was in 1.1.0.
His main stregnths imo have always been his range, power, and terrifying advantaged state. His decent juggles and combo strings paired with his hard hitting moves let him punish his opponents hard if they make a mistake.
His Oos and Grab game were a means to get him into that scary advantaged state. The change forces us to learn his neutral game instead of putting such emphasis on grabs. I like that the game has shifted more towards spacing and less towards BnB Grab combos.
Also, keep in mind Charizard's biggest weakness was getting shield grabbed by characters like falcon, mario, and ZSS. Any character with good grab combos that can also juggle us well gave us problems. It's both good and bad for us. I doubt that charizard is going to be trash after this patch. He still does what he does best. Spaces around, looks for an oppening, and beats his opponents to dust when they mess up.