Overview
In a nutshell
Pit is currently ranked 21 in the E tier on the tier list, which is the result of his fast attacks, great projectile, very long recovery (arguably one of the longest), ability to pursure airborne enemies, and possession of two reflectors (while all other characters have only one reflector, if any at all), but the fact that he cannot recover after being hit in the midst of Wings of Icarus and problems with KOing keep him out of the 
tier. Another problem that Pit has is that his metagame is not as developed as the other characters are.