Other than being outranged pretty much everything that little rat does is safe. His F tilt kills and is needlessly safe, he can spam all day. He's really fast, he's really small, he's got the best recovery in the game or at the very least is up there.
I'm failing to understand why is it that you continue to incorrectly use the word "safe"
I'm almost certain that every attack outside of FFN-Air/Rising U-Air can be shield-grabbed or jabbed.
If you're being poked by retreating aerials then that is a personal error as Pichu isn't alone in being able to perform this.
All of his smash attacks can be capitalized on and both his Down Smash/Forward Smash lose 99% of the time on Trades.
(There is a mild exception for potential ledge shenanigans)
His range is so poor that if you actually find yourself constantly being F-tilted/N-aired then you either have subpar spacing or poor reflexes.
(Or the off-chance that your character is horrible in the matchup)
If Pichu isn't positioning a few of his attacks as a wall then an agile opponent can sometimes slip right out of his B-air/FSmash.
(This makes "safe" application of B-air/FSmash feel 1-Dimensional.)
He dies far too early and gets outspaced a bit too easily to have such janky multi-hitting attacks.
His Up-B does not deal any damage and can be walled by almost any type of lingering hitbox.
So while it will never be considered the best recovery, it is definitely good for what it does in the right hands -- which is force the opponent to guess.
His D-air is incredible off stage and it nails most characters as if he's Melee's Falco, so I do agree there.
He would almost be guaranteed a loss to counter-aggressive players or zoners if not for the constant threat of Pichu being able to gimp players who botch their recovery.
(Although, some characters simply have bad ones and will struggle.)