This is so stupid. First of all, Zelda's "high risk" strategy in Melee amounted to "spam Lightning Kicks." You know, she can do the exact same thing in PM if you so wish. You won't get far though because that strategy sucks. Always has and always will. She is not the opposite of her Melee self because she can do everything she could do before (which wasn't much) and more. Second of all, Zelda is a defensive character. Defensive characters do not lend themselves to typical high risk/high reward playstyles. You have dozens of other more offensive characters to choose from, so stop trying to take a defensive character and shove her into your preferred role.
Yeesh, people are such whiny airheads when it comes to Zelda. At this point I'm hoping she stays the same just to spite you all.
I'll steer clear of the talk on Zelda's quality of design, but I'd like to bring up that good defensive attributes don't always amount to a defensive playstyle (we've already seen this before with Peach). Zelda is also gifted with simple, strong shield pressure in the form of Din's, fsmash, and lightning kicks, which, combined with their flexible coverage behind Zelda, are good tools for forcing the opponent to concede stage control (otherwise known as a good approach). Additionally Din's can cover tech/recovery options, and Farore's extends chases and pressure situations. Dashdancing is a comparatively poor spacing tool until Zelda commits to an approach with dash attack, at which point it is an excellent option for picking up an opponent trying to escape pressure. Her slower grab, while unsuited for scooping up attackers, has good range for picking up tech rolls, and has a huge damage payout with 4% pummels and 15% dthrow alone, disregarding DI mixups into lightning kick. Although the Din's combos are cool and all, the real substance of Zelda's combo game consists of looking for practical, consistent setups into two of the best KO moves in the game (lightning kick and lightning kick, respectively). With the exception of usmash on a few fast-fallers, most of Zelda's defensive options fail to achieve this.
My key point is that Zelda benefits the most (i.e. optimizes reward) when her opponent is playing defensively, not when she is, which is why it is important that Zelda's gameplan revolve around forcing her opponent to play defensively. In fact, the good defense might as well be there just to give her more chances to initiate her own offense, rather than dictate playstyle. As has been brought up before, this is why her control of the game folds to characters that are simply too quick to trap in a disadvantageous defensive position. For those matchups only, I would consider Zelda a defensive character, possibly helped along by the fact that in several of them she suddenly finds her strongest combo starter to be an OoS option.
On another note, the concept of fixating balance around some arbitrary risk/reward ratio is completely useless. Safety will always be excessively favored, because getting any hit at all, as long as it isn't punishable, is more than enough reward to win a match.