In recovery, calling it OP is waaay more understandable. For approach, I just can't wrap my head around it being broken, it just seems to have too many draw backs. It is worth noting that characters with big hitboxes have a much easier time dealing with QaC recovery stuff since they basically prevent you from getting a downwards angle to cancel it without getting hit. So it makes Mewtwo/Marth/Ivysaur/Charizard more frustrating (range specifically, not the whole matchup) because your recovery gets really easy to edgegaurd. Also, its worth noting that it is cringeworthy how little Pikachu side b gets punished in recovery. Seriously, there is so much end lag, all you have to do is go deep. You don't even need a Pikachu level recovery, Marth can RAR Bair it and jump and up b back to the ledge as long as its a medium sized stage.
Again, I can understand the want for a recovery nerf on Pika regarding QaC2, I personally don't agree with that, but I also don't know where the rest of the cast will be. I think current Pikachu is perfect exactly like he is, but then again what do I know? I have zero tourney experience at the moment. From what I have seen, QaC out of just the first section would hamper most of what makes it so awesome one stage.
EDIT: I would just like to emphasize 2 things:
1) While QaC is a major buff to his recovery, it still isn't too hard for a lot of characters to stick a hitbox while he is on his way to the stage because of its poor priority.
2) The difference between, say, Sonic spindashes is the it is an air move, Pikachu still has to travel to the ground before he can cancel with a wavedash back, jump, or aerial. Sonic could react to a bad approach and jump (3 frames), airdodge back (10 frames of lag?) and be back to neutral. Its almost instantaneous. QaC is much more commitment than that. It still may be ridiculous to deal with, just food for thought.
I personally think its fine, but maybe that is because it hasn't been abused to its fullest potential yet.