It's way too early to try and estimate a tier list especially when you've only factored in probably FFA and not 1vs1 or 2vs2.
Sly is nowhere near top tier, he's mid tier at the most. His level 1 is amazing but he CAN'T block or dodge any attacks or supers himself so any wide range ones like Radecs will destroy him even if he's hiding. Plus in 1vs1 his invisibility is useless since the camera expands to his position and the player only has to focus on his outline so there's no way he can hide.
As a Fat Princess player you're comment about lack of air juggles is just wrong, Fat Princess can easily get 100+ meter on a single target, has an armored chargeable square attack able to absorb hits and causes a crumple for a free high meter combo, has some of the best air atacks in the game woth good range and capable of causing stun or knock downs to control air space and she has excelent approaches and combo's into her super meter thanks to her little knight.
Toro builds meter pretty fast and can adjust to fighting several opponents thanks to his multiple stances, his Akuma stance is great for getting in and controlling space thanks to mochi balls, Scoprion/Sub Zero ninja stance has some great approaches on the ground with good combo's and completely anti zoning in every way sonce his fish bone slice destroys Sackboys elecrtic trap and the teleport gets right behind them and lastly his Kazuya stance has some very very long combos. His only bad super really is his level 3. His level 1 is pretty good and his level 2 has a large AOE.
Sackboy always was Mid tier, his melee game is utter crap and ALL his projectiles can be destroyed, clashed with or just plowed through by the likes of Kratos, Sir Daniel and Big Daddy.
Sir Daniel is a pretty good chaarcter and ones of the best for 1vs1 but his supers are not that great for FFA.
Debatable, but here are a few necessary switches
Ratchet: S (Grab can be thrown into lvl 1 super)
Drake: A he is not S tier material.
Spike and Parapa should switch
Toro D tier??? I don't want to live on this planet anymore. He is B tier minimum. I think he is A. If his lvl 1 had more range, he would be S tier. His lvl 1 hitbox is smaller than the animation.
ALSO his best stance is not the liu kang, its the "oni stance" (down o) since you clearly don't know all the characters move set, please don't ever make a tier list again