People also keep mentioning Sheik and ZSS in the same sentence too often when speaking of successful characters. Why is this? We all know it's because of Nairo, a player who might as well pick Mario, Fox, Diddy, Ness, Pikachu or Rosalina (ignoring possible playstyle incompatibility on that last one) and place just as well. Pikachu in 3rd, like said, is even more skewed because of a single player and it really shouldn't work that way. Here's some recent majors and their results to show just how little representation ZSS and Pikachu have, using Sheik just so people will stop mentioning her and ZSS in the same sentence:
CEO 2015
Sheik: 1st, 9th, 9th, 9th, 13th, 13th, 17th
ZSS: 2nd, 7th
Pikachu: 5th
EVO 2015
Sheik: 1st, 2nd, 9th, 9th, 13th, 25th, 25th, 25th
ZSS: 3rd
Pikachu: 7th
SSC
Sheik: 1st, 5th, 7th (secondary)
ZSS: 3rd
Pikachu: 2nd, 7th (secondary)
Who else would deserve 2nd or 3rd on the tier list then? Well, Rosalina, Sonic, Diddy and Fox all have more or as much results as ZSS, and definitely more than Pikachu. You can talk theory all you want, but there's nothing to say or show that ZSS or Pikachu are any better than characters like Rosalina, Sonic, Diddy, Fox or arguably even Mario. I think this is also a subject where a lot of top players have skewed views because Nairo and ESAM are just so good.
I asked this question when I started posting here again after SSC; are we sure ZSS and Pikachu are 2nd and 3rd or is it the players themselves? Here are the results of the other top-tier-deemed characters in comparison:
CEO 2015
Diddy: 1st (secondary), 5th
Rosalina: 3rd, 17th, 25th, 25th
Sonic: 9th, 17th, 17th, 25th
Fox: 4th
Ness: 7th
Mario: 13th
EVO 2015
Diddy: 1st (secondary), 17th, 17th
Rosalina: 4th (secondary), 5th, 25th
Sonic: 9th, 13th
Fox: 9th, 17th
Ness: 7th, 25th
Mario: 5th
SSC
Diddy: 5th, 9th, 25th, 25th
Rosalina: 9th, 13th, 17th, 25th
Sonic: 9th, 13th
Fox: 7th (secondary)
Ness: 7th, 13th
Mario: -
Most of these results are weaker, but there's more than one player getting them. Rosalina and Diddy stand out, Sonic has plenty of results but no top 8s, while Fox and Ness doing alright. Mario has been lacking representation since Ally didn't enter CEO or SSC, but EVO which he did enter put Mario to 5th and he still got 13th at CEO. All these characters have plenty of theory to support them as well, and all of them have their own share of unfavorable matchups along with ZSS and Pikachu.
Gonna go against the majority here somewhat and say:
S:
A:
B:
(not ordered, might include others)
The ones with the most potential are probably Sheik, ZSS, Mario and Pikachu, and I wouldn't be surprised if they eventually were the top 4. Short explanations:
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Sheik dominates every tournament and seemingly (although always more and more clearly) has an answer for any situation. Such frame data, range and projectile really shouldn't be on one character like that without some weaknesses to balance it out.
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Diddy has been shown in theory and practice to be the only character to contest Sheik and he's solid all around, low recovery really being his only problem. I think the nerfs made people underestimate him, his reward did get decreased considerably but his kill potential didn't really suffer that much. Even if uair and fair didn't get nerfed as much as they did, bananas and dtilts into smashes would've probably been better choices for getting kills eventually or in many situations.
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ZSS' punish game is in a class of its own and can only be perfected more and more, and her only real problem is the way her grab limits her options in certain situations and makes her prone to large punishes. She however literally needs half the punishes of her opponent to achieve the same result, and definitely has the means to take advantage of it.
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Rosalina might fall eventually due to her possibly having more polarized matchups than the others, for both better and worse, since she either walls the opponent out long enough that they die first or she doesn't.
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Mario probably the hardest to pinpoint weaknesses from, since he has the best overall frame data in the game, good mobility, decent damage output, a combo throw, a kill throw, an above-average recovery and a workable projectile. He only seems to struggle from his lack of range on characters who can space him out because all his damage and kills come from getting very close to the opponent.
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Pikachu struggles to kill outside of gimmicks because he doesn't get reliable kills off of grabs and lacks attacks with decent range that he could just throw out safely. Has a fairly strong neutral because of thunderjolts and QA despite his lack of immediate range, and he's got one of the hardest recoveries to gimp. Definitely among the characters with the most untapped potential, but Pikachu's weaknesses are pretty clear.
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Sonic isn't the only character I could see timeout / pressuring with the lead being a good tactic, but he definitely does it the best and it seems to work so far. Has arguably several kill throws to kill you with once he has played his hit and run long enough. A pretty polarizing character as well.
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Ness will never be bad as long as he has the grab reward and aerials he currently has, but I think his average neutral and poor recovery will only push him lower. Not by more than a few spots though, unless some other characters get massive buffs and go past him or if Ryu/MK really are better than what everyone thinks.
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Fox's damage output is pretty ridiculous for the frame data he has, but whereas Sheik has ridiculous properties without weaknesses, Fox is actually balanced by having an exploitable recovery and lacking the grab reward of other top tiers. Outside of his dair and nair to up smash setups, killing with him is pretty unsafe despite the power he has.