One month has passed since the release of Super Smash Bros. Ultimate. The game is doing exceptionally well, becoming the best selling 2018 video game product on Amazon. It has only been one month, but there have been a number of tournaments, and tier lists have popped up attempting to convey who many consider to be the most viable characters for competitive play. A Reddit user named BarnardsLoop has handily compiled data from 88 events. Rather than looking at character frame data, these lists rank characters based on their tournament results thus far.
First, let's look at the top five from "all events." This combines lower tier tournaments along with the national/super regionals. At first is Wolf, then Palutena, Inkling, Snake, and Peach/Daisy. Now, let's look at the top five from just the national/super regionals. At first is Fox, then Peach/Daisy, Pichu, Snake, and Palutena. There is some overlap, but you'll notice that Inkling does not make the top five in the national results. (She sits at 11th place according to BarnardsLoop.) It will be interesting to see which characters get the best results at the two arguably biggest tournaments this year: GENESIS 6 and EVO 2018.
BarnardsLoop notes that Ice Climbers is the only character with no results. As "wobbling" (an infinite technique used by the Ice Climbers) is not possible in Super Smash Bros. Ultimate, many probably don't see a point to playing as them. Still, this doesn't mean Ice Climbers are a bad duo. Rather, it appears not many are playing them competitively at the moment, or that players are still mastering them for competitive play.
It is fascinating to see which characters are getting the best results currently in tourneys. Pikachu is nowhere to be seen in the top 15 of either list, despite early tier lists calling him a high level character. Peach is especially high in competitive play. We just saw that at the recent Smash Conference United event in Florida, where Peach took second and third place. Meanwhile, Palutena is getting fantastic results. She was a consistently ranked low character in Super Smash Bros. for Wii U, but that has changed here as many are playing her competitively.
BarnardsLoop's conclusion is that most of the characters seem to be viable for competitive play. Based on how characters have been readjusted for this game, and the tourney results, this conclusion appears to be true. Whereas Smash Wii U had an overpowered character like Bayonetta, there doesn't appear to be any drastic power level differences in Ultimate. Masahiro Sakurai's team has done an admirable job making the roster balanced.