NES n00b
Smash Master
You forgot Ice Climbers and Mew2 benefit signfigantly from wavedash while Sheik and Falcon (the top/upper tiers) do not benfit from it as much as even Mario.It certainly made many characters better, but those are the characters that weren't godly: It definately pushed Samus up to be a contender, as with luigi and link, to some extent. Link has a slow dash, meaning that to escape an attack he had to jump or shield. His WD isn't long, but it allows him to scuttle back quickly better than rolling (which is easy to punish) or dashing backwards (as a character such as fox/falcon can).
I really do not see a reason to take it out.
1. It is not unfair
2. If you cannot do it, you are a casual gamer and do not need it anways
Plus, I want Luigi to have the same feel which includes mostly wavedashing.