Addressing your arguments in order: In what world are melee players getting 100%/opening? Punishes of that level are actually impossible for a player to do consistently given melee's excellent defensive options; they're rare and most definitely not the norm.

Regarding up throw rest: 1.) It only works on fast fallers. 2.) It is not at all guaranteed if the grab connects, you can DI the throw and it doesn't combo anymore. 3.) It isn't even guaranteed to kill at all percents/stages.

The difference between ICs grabbing you and any other character is that with other characters, you have defensive options that can counter or mitigate your opponent's options. ICs grab punish is not at all comparable to the read and reaction based option coverage that every other character is forced to learn.

Unless you define "degenerate gameplay" significantly differently than I do, I'd have to disagree. Play that is overly centralized around avoiding a one touch kill promotes camping and removes punish game (and arguably neutral game) as skills we want to test with competitive play. This is what people refer to when they say "ICs will have to learn to play the game" if wobbling gets banned.

With regard to reducing ICs viability, I don't think this argument holds water. Fly Amanita is one of the best ICs players of all time, but he didn't wobble. Notable wobbling ICs players like Nintendude had similar tournament results when wobbling was previously banned.

Lastly, I don't think avoiding banning a flawed and problematic technique by virtue of it slightly lowering a character's viability is even a good argument in the first place. Peach with bomber stalling is probably still a worse character than Fox, but we ban this tactic anyway. Removing clearly degenerate play from our game's competitive scene should always be a priority, and there is precedent that justifies banning wobbling, in my opinion.