As an active Melee player, the tournament has cooled me right off after I almost lost my shit from excitement during the trailer.
This is essentially Smash 4.5 so far. It allows a lot more offensive gameplay and the neutral is a bit faster, but the wacky as all hell knockback REALLY bugs me. Aside from Sheik at low % and OBVIOUSLY Bayo, no one could really demonstrate any decent combo potential because the knock back of hits starts off incredibly fast. Additionally to that, since it loses its knockback almost immediately after a very short time, characters also live to a ridiculously high percentage, unless you gimp their recoveries (Sheik) or simply carry them into the blast zones (Bayo, MAYBE Jiggs).
Snake looked like a ridiculously good zoning character. Ridley seems to have immense offensive potential, but weak on the defensive side. Bayo is still broken. ZSS looks fantastic, so do Sonic and Sheik.
I almost lost it when they announced directional air dodges, since this was what enabled Melee's wavedashes. But the slight backwards motion they implemented prevents it from happening again. Massive bummer, but not a massive issue to me. Dash dancing is nice.
It's obviously still in development and the balancing hasn't been finished. So I hope that they look at their knockback mechanics again. Slow the knockback down a bit and massively reduce the aerial friction that sets in after a while and we have a game that allows an aggressive neutral with a combo heavy punish game and multiple kill options for most chars.
Aka, an updated version of Melee with a few less mechanics.