His only invincible move is ex.Spinning Mixer. It doesn't have much invulnerability and is sort of free to well spaced / timed jump-ins --- if the opponent places it right they can outright beat the move as it runs out of invincibility, or angle their attack so his reversal will whiff. Also, it's only 8 frames so it's easily safe-jumped. With that said, between a somewhat workable reversal in ex.Spinning Mixer, his v-reversal, and varied wake-up timings, he does just enough to survive on wakeup. His damage is low... until he corners you, where he can easily perform 330 damage combos for one meter.... but yeah, his midscreen damage potential is one of the lowest in the game.
Those two weaknesses are his only notable ones... His footsies are so-so, but they get the job done, so I wouldn't call that a weakness.
The reason why his damage output being low isn't that big of a deal is because he has the best corner carry potential in the game - damage isn't the point in his design. You can easily force the opponent to travel across 80% of the screen a crush counter combo and get a free dash on their wake-up to place their back against the wall --- we're talking wall to wall corner carry. Also, his mobility and tool-set makes it incredibly hard to corner Rashid - he's designed to be slippery. His v-reversal takes him out of the corner and puts the opponent there, his grounded ex.divekick switches sides on hit and block...and his wall-jumps and his tornadoes + jumping v-skill allow him to escape the corner as well.
When Rashid corners you it's terrifying. His frame-traps and pressure strings and tick throw game when cornered is probably the best in the game. ex.Tornado cancels become the thing of nightmares.
Combine the above with his v-trigger and it all sort of adds up. His v-trigger stalks the opponent and forces them into the corner. When cornered it's probably the best setup tool in the game as there are numerous crossup and high low mix-ups and basically free-pressure options. It also makes his mobility god-tier temporarily and boosts his damage output considerably, as well as turning his best pokes into combo tools (s.Forward, for example). On top of that stuff it also has even more unlimited potential; some cool stuff that the tornado does: activates proximity blocking near the opponent which disables the ability to walk backwards (the potential for brokenness here is huge), gives him new juggle options, makes unsafe normals like sweep safe, etc.
I'd argue his design is very simple effective, with lots of dirt. Corner the opponent with his numerous tools to do so, and RTSD.