I'm not talking about his recovery in terms of how hard or easy it is to edgegaurd, I'm saying range-wise it's very long and useful and when you put it next to Fox's recovery even tho Fox's can do damage and is harder to edgegaurd, it doesn't make him invincible. Honestly when you think about it Fox's recovery is pretty easy to gimp due to the long charge up at the beginning, I'll use YL as an example. I knock Fox off stage slightly and he comes in for a recovery, I can easily quickly use a Nari while he charges up to gimp him, it may not kill him but it's still easy to do. For another example, still YL, Fox's below the ledge, I can use a d tilt easily to gimp him there and the same goes with most characters that have d tilts that hit the ground.
In terms of the problem you have with Pichu's recovery not being fast enough, I'd say it's still faster and easier to hit than Fox's. Fox is a big bright glowing target when he recovers using up be making him easy to see and hit if you know the right moves to use. Meanwhile Pichu's is a lot quicker and he is smaller making him somewhat harder to hit.
It just really depends how you go around using Pichu's recovery that determines weather it's good or not, yeah it doesn't do damage but, who uses Fox's recovery to do damage? In most matches I've seen his Up B is never really used for damage nor does it really hit much.
I think it's sort of unfair to be comparing a low tier character to the best character in the game. I mean really. Who's gonna fight Pichu with Fox amirite?
P.S - I think I sort of lost track of what I was saying there.