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I was thinking about the Fairy-type's effect on the game and have concluded that it does indeed balance the chart.
>Fairy
>resists dragon (for simplicity), dark, fighting, bug
I imagine the resistance to Bug is a jab at U-turn. but also serves as a boon to Psychics seeing as Bug attacks will be less common now.
The nerfs to Dark can be explained away because it is now one of 2 types (previously 3) to be resistant to Ghost, which will be undoubtedly more dangerous now that one of their best resistances are gone. This makes a Ghost resistance key. Not to mention it can hit Steel neutrally now.
The nerfs to fighting are boons to fighting's counters, namely Ice and Rock which are garbage defensively.
The dragon nerf is self explanatory.
>weak to Steel and Poison
Again self explanatory, the shittiest attacking types in the game looking solely at what it's SE against. If you're comparing by resistances, then Bug and Grass are still shitty, but Grass now is immune to several status moves which is legit. Bug is more shitty which sucks.
The buff to poison might make Poison more common, which will also lead to more Psychics.
>resisted by Fire, Steel, Poison,
Steel resist makes up for Dark/Ghost, Fire needed the resist because Bug is shitty again and Grass was also shitty