Good points, but I'll try to counter them.
For punishability, it is not anyone's fault except for yours. Thats why you don't go for laggy moves if you aren't gonna hit them, like his neutral smash (or whatever the B is called). It is a good move, but so much lag/cooldown that it isn't worth using, you'll get punished. If you use it in the wrong times, your fault. Use it well, you won't get punished. Don't do the same combos and dodges, they will read you. Your fault. If you miss an attack and they get a grab, your fault. Don't dodge in time? Your fault. The more competitive you play, the more you learn to dodge these. Miss a counter? Punished. Everyone makes mistakes, but the less you miss the less you get punished.
For combos, all juggles/aerial comboes shouldn't work against a good LM. Use counter. Dodge, its a very quick dodge which can be used a lot. He can be comboed, yes, but it isn't easy. Like I said before, if you don't control the stage and you don't get baited to the edge, you will do better at avoiding being comboed.
And for the last point, being #1 on the ground but bottom #5 in the air does make you OP, but not like MK in Brawl or Fox in melee. Nintendo did a great job with making everyone almost equal. There has to be a best, and that one is Little Mac. You are on the ground a lot, and if you don't get baited near an edge and you are good, being put in the air not even a problem.
By the way, Little Mac has such a bad win/loss ratio because nobody is good at him. He is the character for new players, easy to use and effective. Most people abandon Little Mac because it's complicated to learn how to use him like a baws. For the people who did (and I've faced them), it really shows how good he is. I have beat 15/20 Little Macs, but the 5 that beat me were so good compared the rest. Its that they have skill + the fact that he is OP.
I will come to a compromise, though. I would never complain about a Little Mac if they removed his KO Punch or his super armor or his knockback or his power. Any one of those removed, not all of them, if one of them was removed, and they maybe added some aerial, I would think he is fair. All of them together minus the aerial calls for someone more OP then the rest.
It takes ONE hit for him to get in the air and then be juggled. Have you looked at Frame data? I doubt it because you're a new poster / only have flair for Sonic/Sheik but if I'm wrong its whatever, just helps my argument more if you're new to the competitive scene.
"That's why you don't go for laggy moves if you aren't gonna hit them"
-EVERYTHING has lag in the game, some more than others. You still missed my point. "If you think you have a combo but you get caught because of a powershield/an over priority move then get comboed, that I don't really see how that can be dealt with besides changing your approach for next time. Oh look, you're down a stock because you got bopped in the air."
Let's use the example of Marth for fun. Marth has a pretty good aerial game, and an okay ground game. However, his ground game compliments his aerial game because of sour/sweet spot hits as well as popping (for aerial followups). Marth can F-air camp and force approaches, and can use F-air as a way to get in to bait an attack by FF F-air into drift back and follow with punish afterwards.
Let's use a campy character now, such as Duck Hunt/Fox or w/e you want. Automatically, you are forced to approach because of projectiles. If you miss your approach,
yes, it is your fault, BUT what if it was due to thge other player playing well? You can't blame everything on yourself or you won't understand what is going wrong, same as blaming on "OP things" and other players.
"The less you miss the less you get punished"
-The same goes both ways. Lool. The reason that LM isn't OP is because one hit that gets you in the air is near fatal. If you want to argue this point more give me reasons why this isn't true. He has terrible recovery.
"He can be combo'd yes, but it isn't easy"
-Are you serious? The reason he sucks so much is ecause hes I believe the 10th lightest character in the game, anything that pops him up at a low percent he can't DI out of well because it pops him in a perfect place to get gimped/punished.
"Like I said before, if you don't control the stage and you don't get baited to the edge, you will do better at avoiding being comboed."
I already went over this with campy matchups
"And for the last point, being #1 on the ground but bottom #5 in the air does make you OP"
-No it doesn't, you obviously need help with reading comprehension.
"To say a character is OP means that all of their options will be better than the majority of the cast, and has almost no bad matchups."
"He is the character for new players, easy to use and effective."
-If he is easy to use and effective, that means that his win rate should be higher due to the fract of people "maining" him because they think he is strong, then losing because of his air game. Obviously win rate doesn't mean everything, but part of the win rate is true. He is NOT OP.