I really cant think of any characters besides the other two space animals that have a more threatening neutral than wolf. between his amazing DD and mobility overall, coupled with an amazing projectile thats great for space control and forcing reactions, and having basically every one of his main approach options beat CCing, (nair, dair, grab) its hard to see how he isnt in the top 2. couple that with the fact that his punish game is disgusting. MK, Diddy, ROB, shiek.. none of them have a more threatening combination of neutral/punish than wolf imo.
when looking at MU spreads, there really aren't many characters that deal well with wolf, whereas compared to the other tops, they all have some relevant MUs which they perform a bit less well in (maybe barring diddy). Who beats wolf? The only two I can think of are ironically fox and falco. a number of characters deal with falco pretty well (kirby, peach, m2, DDD, marth, to name a couple) and theres also a number of characters that deal with other tops like shiek (peach, roy, spacies, DDD) and MK (roy, falco, a few others I feel but im not as sure). Same goes for ROB: pretty sure that all the spacies and diddy beat him, if even a bit more marginally.
so, if wolf had some relevant counters that made him a bit more questionable in certain situations than other tops, than I could see him bumping down a few pegs. But atm, I dont see any other characters besides fox or falco beating him. Im very open to the opinions of those who know some of these MUs way better than me, but until I can see how wolf doesnt have a better MU spread than the other tops then thats what Im sticking with.