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I think it's legit. Instead of betting your win on skill and whatever, you bet it on a random chance. It's kind of a gamble. Of course a good player will know how to abuse the best of it, but even the shittiest player can sweep with Klefki if he has the might of God on his side.
No need to ban it. If it allows a bad player to beat a good one, merit's on him for banking it on his higher chances. Not like a good player will have trouble with it. Saying it's not "competitive" is like saying poker is not competitive. Saying it's not fun to play against means shit, as stall isn't fun to play against either.
The only reason to ban it is butthurt, which is not a valid reason in my opinion.