I don't think people are calculating how many characters are in this game. To have a good MU spread is going to be extremely difficult. Even Fox/Falco are starting to sweat a little. Marth/Sheik/Puff/Peach were wrapped in a blanked of security in melee. They were and somewhat still are the gatekeepers of the good characters. Next to spacies they are the best characters in the game. If you cut off Fox/Falco, banned them for example then Sheik would become the number 1 character so she is a pretty good character overall. All the Dthrow change really did in truth was make her go from being better than marth to about on par with him but they both have different better match-ups and match-ups that are challenging. So with that in consideration Marth and Sheik being on the same par I could've put a tie but I didn't want to so I gave Marth a slight and I mean VERY slight edge.
Now, If you load NTSC Melee's Tier lists you'll see that Marth is at the very top of A-tier. If sheik just to Marth's level than technically I have them in the same spot that they occupy in melee. I think alot of people look at the number next to the character and they through a ***** fit without realizing the meaning of said placing. Placing someone like Peach at 14th and really it's kinda a soft placement. She could be higher but there aren't any Armada's in PM playing peach so...looks bleak-ish. Still, She's in A-tier which is about as good a character as anyone In S but each is lacking something overly good. Sheik's Dthrow combined with her moveset auto-disabled a good chunk of the cast and even some of the A tiers in melee. Unfortunately losing that from what I see looking around at the PM community as of late it makes her more of a mortal and less of a God. The parts of Melee that aren't fully functional in this game also play a part. Everyone techs like captain Falcon, No lightshieldings. Then there are the differences in PM; Almost everyone has good/great recovery, There are a lot more viable floaty characters in PM than there are in Melee. Sheik's doesn't have spacie things to make her able to deal with almost everything, she doesn't have Marth's range to keep away floaty characters as much. It's been no secret how very good Puffs have done against sheik. In recent years characters like Pikachu, Peach, Doc, Yoshi, and Luigi have given sheik hell in Melee at a top level. with the buffs to the general cast and the nerfs to Sheik it's very unlikely that you'll even see many sheiks anymore. In fact you already don't see many since 2.6's release. Only occasionally a player like Vanz will reteat to sheik for safety in familiarity.
Again, I'm not trying to say sheik sucks! for god sake she's next to marth at the very top of A tier. I'll remind everyone that A-tiers have been the most dominant in Melee's history. Marth as a character has probably won more melee tournaments Fox/Falco combined. His dominance expanded across 2 different generations of competitive melee thus leading people to place Marth as high as being tied for 1st at one point. Jigglypuff terrorized the Melee scene directly after that. Dominating for over 2 years. After Mango stopped trying Hbox took up the torch and continued puff's dominance until the stage changes made puff alot more beatable but even now Hbox's lone high level representation still sees the character place top 3 consistently and occasionally getting 1st even with a less favorable ruleset and stage list. From there you have Peach who rose from the shadows from 2009-2010 and came to dominate even among some of the most vicious and brutal spacie players of all time. This also occurring during a time where the stage list and ruleset doesn't favor her as a character.
Before anyone goes Peach/Puff/Marth/Sheik are currently/arguably S-tier in Melee Let me just be honest. In Melee there are only 2 true S-tiers who could very well be double S-tier and that would be Fox and Falco. Sheik is kinda A+ S-, Truth be told the guarantees from grab really helps. I don't think a PAL sheik could beat Amsa, Hax, or Axe, at least not on a consistent level. In fact I think those 3 would come to get the better of the MU with their respective characters(Hax is kinda already doing that in NTSC). Jigglypuff is also very good but it's mostly her MU's against the top 3+peach and Falcon that make her that good. Combined with everyone else below a certain level sucking to much. She's got some historical random low tier troubles, Ylink, Pikachu, Yoshi, and Mewtwo have been known to beat or damn near beat very good puffs. Still, that Down-B is hard to ignore so it lands Puff pretty high up but she's much more beatable now in with the current stage list than she was in 2009 with the genesis 1 stage list. Marth is simply seeing the end result of evolution these days. After years of being around everyone's kinda figured him out and he's got very little room to grow minus the basics of the game. You can get better at spacing, dash-dancing, Powershielding, WD-OoS...etc. However his technical ceiling doesn't seem to lend him much more room for growth. Thus his lack of general success in recent years. Of all the very good characters in Melee Marth might be the weakest but that is misleading. He still only loses to very good/pretty good characters. Against average/Bad characters he might 1 stock or 2 stock them instead of 3 and 4 stock them. doesn't make him bad it just makes him closer to reasonable at a higher level.(this statement is being made with the exception of Fox/Falco on FD)
As for Sheik. It's still possible to place her as high as 5. My arguement was never against that. My argument is that you can't do it "easily" The only time I without a doubt place Sheik in the top 5 is when I consider both the highest known PM level of Sheik combined with the highest known level of PM Zelda. Then that character has a very good chance of placing high in a tournament setting considering they become much more difficult to handle should a person master both. Not to mention trying to counterpick someone who uses both at the highest known level. Still, I wanted to make a list without considering Sheilda for once.
Someone just attacked me earlier for placing Mario in top 3. Well someone just put Wario in 1st place. I don't think this list wasn't well thought out though. I just think the Wario salt is lingering. I'm bias because I've played against wario for a Long LONG LONG time now. I've got so use to him since 2.0 that I'm no longer bothered by his basic design, Dtilt, dsmash techchases, wafts, side-b/grab mixup from side-b. His Puff impersonations his Bair and fair while weaving around in the air...etc...etc. I'm use to all of it.
With that said, As of 1 month into 2.0 I thought Wario was the best character in the game LOL. I was getting WRECKED over and OVER by this goofy character and it pissed me off!
So, I can see how Hylian can come to that conclusion.