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Meta Knight has four recovering moves, giving him the most flexible recovery in the game. He can recovery from anywhere once you know how to get used to it. Tornado can be used to recovery horizontaly, Drill Rush bends, Shuttle Loop gives him a second glide and Dimensional Cape can be used from underneath stages to grab ledges at the sides.
Competitvely, Ness/Lucas' recoveries are awful, especially Ness'. People will chase you off the edge to kill you, and if the Ness' thunderbolt hits them, it stops, and he falls to his doom. They're also very prone to ledge hogging.
Continueing on from Nick's list...
1. Meta Knight has no even or worse matchups. He has an advantage against every character.
2. He can cancel momentum with UAir, giving him more survivability than you'd expect from a light character
3. Transcending priority. It will beat and go through every attack
4. His attacks have virtually no end lag
5. He has the best tournament results in probably the history of Smash Bros
In case anyone is wondering, tiers are based off of a character's potential in a competitve tournament in the highest level. Because of all this stuff Meta Knight has going for him, he has the highest potential, placing him at the highest spot on the tier list.