Well, Pyrrha got her mom and aunt's moves, so they would have to go out of their way to not make her top tier.
They came up with some silly story to replace (old) Setsuka with Alpha Patroklos. IIRC, she lost to Mitsurugi at some point and he spared her. Then she moved to Turkey and started teaching orphans laido for self-defense or something. It's not easy to balance out a moveset like this; if the player has mediocre execution, α Patroklos is good, like Setsuka was, but not OP. If the player has robot-like execution though and can often just guard moves and punish them accordingly, he's totally broken as his ex moves also increase his combo damage output a lot and his super move is great. So it's actually SCV's new gameplay mechanics that made him stupidly good.
They also messed up with the new characters. Zwei turned out awful while Viola has infinites and is broken. I believe Ezio is bad, but I'm not sure as I haven't played the game in ages. As for Siegfried, the game testers thought he was OP and he got heavily nerfed before the game's release.
I completely agree with what you said about trying to make him look cool and Patroklos' guard impact being super good.