You've been underrating Wario by a ton. He basically controls the air game with his 3rd-highest air speed in combination with n-air, f-air, d-air and Chomp. Bike is great as a projectile and as a movement tool. His grab game is good with Chomp as a command grab, down throw being decent for combos, and f-throw and b-throw have some kill power at high percents. His kill power is good too with the new f-smash and u-smash and u-air and b-air can kill as well. Finally and perhaps most importantly is Wario Waft, which can easily close a stock when fully charged, similarly to Mac's K.O. Punch.
Take a look at Relfex's Wario for instance.
Vs. Sonic/Fox
https://www.youtube.com/watch?v=npzmEybSQ70
Vs. Diddy/Rosie
https://www.youtube.com/watch?v=8eOfsoz9sZs
I believe that Zelda is viable, but still low or bottom tier in this game. She has great k.o. power and has a bit of a combo game going on thanks to d-tilt, u-tilt and d-throw. Her projectiles are both poor, but do a decent enough job at forcing approaches and Phantom has utility in edgeguarding and creating space for Zelda. However, she suffers from a poor approach as her only options from neutral are her tilts (which are all a tad slow), dash attack (unsafe), Farore's (unsafe), and Phantom Slash (slow). Her slow grab doesn't help either. These approach issues along with her tall frame and mid-light weight make rushdown characters especially hard for her to face.
From what I have played with and seen, this is about what my tier list is looking like so far without customs:
S:
![Diddy Kong :4diddy: :4diddy:](data:image/gif;base64,R0lGODlhAQABAIAAAAAAAP///yH5BAEAAAAALAAAAAABAAEAAAIBRAA7)
![Rosalina :rosalina: :rosalina:](data:image/gif;base64,R0lGODlhAQABAIAAAAAAAP///yH5BAEAAAAALAAAAAABAAEAAAIBRAA7)
![Sheik :4sheik: :4sheik:](data:image/gif;base64,R0lGODlhAQABAIAAAAAAAP///yH5BAEAAAAALAAAAAABAAEAAAIBRAA7)
![Pikachu :4pikachu: :4pikachu:](data:image/gif;base64,R0lGODlhAQABAIAAAAAAAP///yH5BAEAAAAALAAAAAABAAEAAAIBRAA7)
![Sonic :4sonic: :4sonic:](data:image/gif;base64,R0lGODlhAQABAIAAAAAAAP///yH5BAEAAAAALAAAAAABAAEAAAIBRAA7)
A:
![Zero Suit Zamus :4zss: :4zss:](data:image/gif;base64,R0lGODlhAQABAIAAAAAAAP///yH5BAEAAAAALAAAAAABAAEAAAIBRAA7)
![Fox :4fox: :4fox:](data:image/gif;base64,R0lGODlhAQABAIAAAAAAAP///yH5BAEAAAAALAAAAAABAAEAAAIBRAA7)
![Ness :4ness: :4ness:](data:image/gif;base64,R0lGODlhAQABAIAAAAAAAP///yH5BAEAAAAALAAAAAABAAEAAAIBRAA7)
![Yoshi :4yoshi: :4yoshi:](data:image/gif;base64,R0lGODlhAQABAIAAAAAAAP///yH5BAEAAAAALAAAAAABAAEAAAIBRAA7)
![Lucario :4lucario: :4lucario:](data:image/gif;base64,R0lGODlhAQABAIAAAAAAAP///yH5BAEAAAAALAAAAAABAAEAAAIBRAA7)
![Pit :4pit: :4pit:](data:image/gif;base64,R0lGODlhAQABAIAAAAAAAP///yH5BAEAAAAALAAAAAABAAEAAAIBRAA7)
![Dark Pit :4darkpit: :4darkpit:](data:image/gif;base64,R0lGODlhAQABAIAAAAAAAP///yH5BAEAAAAALAAAAAABAAEAAAIBRAA7)
![Captain Falcon :4falcon: :4falcon:](data:image/gif;base64,R0lGODlhAQABAIAAAAAAAP///yH5BAEAAAAALAAAAAABAAEAAAIBRAA7)
![Luigi :4luigi: :4luigi:](data:image/gif;base64,R0lGODlhAQABAIAAAAAAAP///yH5BAEAAAAALAAAAAABAAEAAAIBRAA7)
![Shulk :4shulk: :4shulk:](data:image/gif;base64,R0lGODlhAQABAIAAAAAAAP///yH5BAEAAAAALAAAAAABAAEAAAIBRAA7)
![Wario :4wario: :4wario:](data:image/gif;base64,R0lGODlhAQABAIAAAAAAAP///yH5BAEAAAAALAAAAAABAAEAAAIBRAA7)
![Pac-Man :4pacman: :4pacman:](data:image/gif;base64,R0lGODlhAQABAIAAAAAAAP///yH5BAEAAAAALAAAAAABAAEAAAIBRAA7)
![Mario :4mario: :4mario:](data:image/gif;base64,R0lGODlhAQABAIAAAAAAAP///yH5BAEAAAAALAAAAAABAAEAAAIBRAA7)
B:
![Greninja :4greninja: :4greninja:](data:image/gif;base64,R0lGODlhAQABAIAAAAAAAP///yH5BAEAAAAALAAAAAABAAEAAAIBRAA7)
![Princess Peach :4peach: :4peach:](data:image/gif;base64,R0lGODlhAQABAIAAAAAAAP///yH5BAEAAAAALAAAAAABAAEAAAIBRAA7)
![Villager Male :4villager: :4villager:](data:image/gif;base64,R0lGODlhAQABAIAAAAAAAP///yH5BAEAAAAALAAAAAABAAEAAAIBRAA7)
![Ike :4myfriends: :4myfriends:](data:image/gif;base64,R0lGODlhAQABAIAAAAAAAP///yH5BAEAAAAALAAAAAABAAEAAAIBRAA7)
![R.O.B :4rob: :4rob:](data:image/gif;base64,R0lGODlhAQABAIAAAAAAAP///yH5BAEAAAAALAAAAAABAAEAAAIBRAA7)
![Duck Hunt :4duckhunt: :4duckhunt:](data:image/gif;base64,R0lGODlhAQABAIAAAAAAAP///yH5BAEAAAAALAAAAAABAAEAAAIBRAA7)
![Megaman :4megaman: :4megaman:](data:image/gif;base64,R0lGODlhAQABAIAAAAAAAP///yH5BAEAAAAALAAAAAABAAEAAAIBRAA7)
![Jigglypuff :4jigglypuff: :4jigglypuff:](data:image/gif;base64,R0lGODlhAQABAIAAAAAAAP///yH5BAEAAAAALAAAAAABAAEAAAIBRAA7)
![Olimar :4olimar: :4olimar:](data:image/gif;base64,R0lGODlhAQABAIAAAAAAAP///yH5BAEAAAAALAAAAAABAAEAAAIBRAA7)
![Charizard :4charizard: :4charizard:](data:image/gif;base64,R0lGODlhAQABAIAAAAAAAP///yH5BAEAAAAALAAAAAABAAEAAAIBRAA7)
![Mii Brawler :4miibrawl: :4miibrawl:](data:image/gif;base64,R0lGODlhAQABAIAAAAAAAP///yH5BAEAAAAALAAAAAABAAEAAAIBRAA7)
![Bowser :4bowser: :4bowser:](data:image/gif;base64,R0lGODlhAQABAIAAAAAAAP///yH5BAEAAAAALAAAAAABAAEAAAIBRAA7)
![Little Mac :4littlemac: :4littlemac:](data:image/gif;base64,R0lGODlhAQABAIAAAAAAAP///yH5BAEAAAAALAAAAAABAAEAAAIBRAA7)
C:
![Mii Gunner :4miigun: :4miigun:](data:image/gif;base64,R0lGODlhAQABAIAAAAAAAP///yH5BAEAAAAALAAAAAABAAEAAAIBRAA7)
![Link :4link: :4link:](data:image/gif;base64,R0lGODlhAQABAIAAAAAAAP///yH5BAEAAAAALAAAAAABAAEAAAIBRAA7)
![Ganondorf :4ganondorf: :4ganondorf:](data:image/gif;base64,R0lGODlhAQABAIAAAAAAAP///yH5BAEAAAAALAAAAAABAAEAAAIBRAA7)
![Robin :4robinm: :4robinm:](data:image/gif;base64,R0lGODlhAQABAIAAAAAAAP///yH5BAEAAAAALAAAAAABAAEAAAIBRAA7)
![Bowser Jr. :4bowserjr: :4bowserjr:](data:image/gif;base64,R0lGODlhAQABAIAAAAAAAP///yH5BAEAAAAALAAAAAABAAEAAAIBRAA7)
![Donkey Kong :4dk: :4dk:](data:image/gif;base64,R0lGODlhAQABAIAAAAAAAP///yH5BAEAAAAALAAAAAABAAEAAAIBRAA7)
![Samus :4samus: :4samus:](data:image/gif;base64,R0lGODlhAQABAIAAAAAAAP///yH5BAEAAAAALAAAAAABAAEAAAIBRAA7)
![Mr. Game & Watch :4gaw: :4gaw:](data:image/gif;base64,R0lGODlhAQABAIAAAAAAAP///yH5BAEAAAAALAAAAAABAAEAAAIBRAA7)
![Toon Link :4tlink: :4tlink:](data:image/gif;base64,R0lGODlhAQABAIAAAAAAAP///yH5BAEAAAAALAAAAAABAAEAAAIBRAA7)
![Marth :4marth: :4marth:](data:image/gif;base64,R0lGODlhAQABAIAAAAAAAP///yH5BAEAAAAALAAAAAABAAEAAAIBRAA7)
![Zelda :4zelda: :4zelda:](data:image/gif;base64,R0lGODlhAQABAIAAAAAAAP///yH5BAEAAAAALAAAAAABAAEAAAIBRAA7)
![Meta Knight :4metaknight: :4metaknight:](data:image/gif;base64,R0lGODlhAQABAIAAAAAAAP///yH5BAEAAAAALAAAAAABAAEAAAIBRAA7)
![Wii Fit Trainer Female :4wiifit: :4wiifit:](data:image/gif;base64,R0lGODlhAQABAIAAAAAAAP///yH5BAEAAAAALAAAAAABAAEAAAIBRAA7)
![Dr. Mario :4drmario: :4drmario:](data:image/gif;base64,R0lGODlhAQABAIAAAAAAAP///yH5BAEAAAAALAAAAAABAAEAAAIBRAA7)
D:
![Palutena :4palutena: :4palutena:](data:image/gif;base64,R0lGODlhAQABAIAAAAAAAP///yH5BAEAAAAALAAAAAABAAEAAAIBRAA7)
![Falco :4falco: :4falco:](data:image/gif;base64,R0lGODlhAQABAIAAAAAAAP///yH5BAEAAAAALAAAAAABAAEAAAIBRAA7)
![Lucina :4lucina: :4lucina:](data:image/gif;base64,R0lGODlhAQABAIAAAAAAAP///yH5BAEAAAAALAAAAAABAAEAAAIBRAA7)
![Kirby :4kirby: :4kirby:](data:image/gif;base64,R0lGODlhAQABAIAAAAAAAP///yH5BAEAAAAALAAAAAABAAEAAAIBRAA7)
![King Dedede :4dedede: :4dedede:](data:image/gif;base64,R0lGODlhAQABAIAAAAAAAP///yH5BAEAAAAALAAAAAABAAEAAAIBRAA7)
![Mii Swordfighter :4miisword: :4miisword:](data:image/gif;base64,R0lGODlhAQABAIAAAAAAAP///yH5BAEAAAAALAAAAAABAAEAAAIBRAA7)
Everyone has something going for them and can be effective in a fight, but they either have to be consistent or just have some really outstanding things in their arsenal. I'll just talk about the characters that I feel might be lower than Zelda.
![Meta Knight :4metaknight: :4metaknight:](data:image/gif;base64,R0lGODlhAQABAIAAAAAAAP///yH5BAEAAAAALAAAAAABAAEAAAIBRAA7)
Up-air to Shuttle Loop near the ceiling is pretty scary and Meta Knight attacks quickly and dashes quickly. He also has a kill throw in u-throw. However, his lack or range and disjoint makes it hard for Meta Knight's attacks to actually connect and he's not that great at killing. His low air speed is also a bit of a hindrance.
![Wii Fit Trainer Female :4wiifit: :4wiifit:](data:image/gif;base64,R0lGODlhAQABAIAAAAAAAP///yH5BAEAAAAALAAAAAABAAEAAAIBRAA7)
WFT is agile, fairly strong and has access to a projectile, but she suffers from poor range, awkward hitboxes, poor recovery and a tall frame.
![Dr. Mario :4drmario: :4drmario:](data:image/gif;base64,R0lGODlhAQABAIAAAAAAAP///yH5BAEAAAAALAAAAAABAAEAAAIBRAA7)
Doc has two major problems: his recovery is very poor, especially vertically and his very slow dash speed makes it diifcult to approach or punish from mid-long range. However, Doc can get in on the opponent with pills and is very scary once he does. His high attack speed, great combos and kill power compensate for his two big flaws.
![Palutena :4palutena: :4palutena:](data:image/gif;base64,R0lGODlhAQABAIAAAAAAAP///yH5BAEAAAAALAAAAAABAAEAAAIBRAA7)
Palutena's up smash, reflector and d-throw are the only really notable things I see in her. She is pretty mediocre from there and has slow tilts.
![Falco :4falco: :4falco:](data:image/gif;base64,R0lGODlhAQABAIAAAAAAAP///yH5BAEAAAAALAAAAAABAAEAAAIBRAA7)
Falco's not bad; he has decent power, a good jab, a good reflector and Blaster is still good despite being heavily nerfed. He is sluggish, however and his attacks are pretty unsafe on block, especially his aerials.
![Lucina :4lucina: :4lucina:](data:image/gif;base64,R0lGODlhAQABAIAAAAAAAP///yH5BAEAAAAALAAAAAABAAEAAAIBRAA7)
Worse than Marth because she doesn't get the rewards from spacing like she is supposed to and is less safe on block when she hits up close. Nothing really scary coming from her either.
![Kirby :4kirby: :4kirby:](data:image/gif;base64,R0lGODlhAQABAIAAAAAAAP///yH5BAEAAAAALAAAAAABAAEAAAIBRAA7)
Kirby can be used effectively; I've seen MikeKirby in action and he uses him very well. He has good combos from u-tilt, though not much else is noteworthy. Kirby has below-average movement speed, nerfed feet range and is one of lightest characters in the game.
![King Dedede :4dedede: :4dedede:](data:image/gif;base64,R0lGODlhAQABAIAAAAAAAP///yH5BAEAAAAALAAAAAABAAEAAAIBRAA7)
Dedede is really fat and takes a lot of effort to kill and is strong, but a lot of the characters in this game do very well against him thanks to his large size. His Gordos are reflected very easily and can be a liability against characters like (Dr.) Mario, Ness, Zelda, Fox, Falco and Greninja. He is basically a punching bag for combos because of his size and falling speed and his low speed on the ground, in the air and in his attacks makes it difficult for him to get a hit in oftentimes.
![Mii Swordfighter :4miisword: :4miisword:](data:image/gif;base64,R0lGODlhAQABAIAAAAAAAP///yH5BAEAAAAALAAAAAABAAEAAAIBRAA7)
I know nothing about Mii Swordfighter tbh lol.