C. Falcon and Link both have like the same KO power, except that Falcon has better gimping tools, D-air, side b meteor spike, and up+b. Link can't edge guard as far out as C. Falcon due to his poor recovery, and C. Falcon has more aerial mobility in the air to edge guard farther out making a possibilty for a gimp greater than Link's gimp game, those assets make C. Falcon better, although Link may have a better overall moveset, Link's attributes don't mesh together well at all. C. Falcon's speed and moveset mesh together better. And since C. Falcon has insane aerial and running speed, it clearly gives him more options, and he can follow up combos better and punish mistakes better than Link can.
Oh yeah and people may say Link is better, well, Link is more useful of a character on wi-fi since people can't powershield projectiles so well. Since Captain Falcon relies on speed and punishment, it doesn't work so well on wifi. That's why people get the misconception that Link is better than C. Falcon. Wifi players especially who don't play much offline. But really, C. Falcon is better than Link when it counts, and when it's not on wifi.
You really can't have a better explanation than this. C. Falcon > Link.
Bottom tier
C. Falcon
Link
Ganon
SoPo
* I don't think Ivysaur or Jigglypuff deserve to be in bottom tier anymore.