I dunno, I wouldn't say it was all to great on console. I played a few rounds myself and found it to be rather slow and floaty, but not nearly as much as Brawl was. Hitstun is kind of there, but you can still recover very easily from being launched. There's not much combo potential, so aggressive play is not really supported. If anything, defensive play is just as rewarding as it was in Brawl, as it seems like shields and rolls got a buff.
While the game was still fun to play, but with how their leaning more towards Brawl's design philosophy (as opposed to Melee's or 64's), I don't see it being popular competitively. Which is a shame, considering how eager they were to promote it as a competitive game with their Invitational.