Psychic should. Not bug, not ice, psychic.
With only 2 resists and 2 types it hits SE, it has become one of the worst types. Resisting fairy and being SE on it would give it a new worth without bringing to its broken gen 1 days.
Bug should resist fairy, no need to make it SE, because that's pretty much making fairy weak to u-turn spam, not bugs themselves.
If fairy was offensively resisted by more types, akin to how bug and grass are resisted by a shitton of types, it would become a more balanced type. Namely, resisted by fire, steel, poison, bug, grass and psychic (6), would be ok.
Nerfing it offensively + a psychic weakness is the way to go, I believe.
