I understand that Raiden is a really really good character. he is fast, has very good setup for kills ect. One thing I do agree that he doesnt need is the kill setup from a grab. That I think he truly doesnt need. If there is a way to tech throw then fine, I will need to level up. If not, then im ready to put him on my list of being broken for sure. Heck i'll even put him higher than kratos.
My grip about the grab is that roll does not evade it. So even when raiden is pressure you and you try to get out of it by rolling the grab will get you instead.
I have seen kratos kill off a grab but that's with a level 2. Same with drake. I know a couple characters like cole can kill with a level 1 off of a grab but I think that's ok because they have to work a little unlike raiden to get their meter IMO. So yeah I love raiden and all and even spent some times with him, but that whole grab setup as to be toned down.
Her level 1 is the main thing going for her.
Her summons actually do leave her kinda defensless without them, even with her armored square attack she doesn't have that many fast attacking normal moves so can get dominated by close range monsters like Big Daddy and PaRappa and there are characters with far superiour zoning to her like Radec and the Coles.