I'm actually gonna go against the grain here and say that Balanced is definitely passable. Possessed is invariably the better variation but I think balanced has a lot to offer.
The change to b1 actually allows him to play footsies. It also gives him a stagger opportunity (b1 into ex bf2, b1 into another b1, b1 into d1, b1 into overhead swipe). The threat of ex rk is also a great deterrent for people poking back.
He has decent anti-airs with ex rk and d1 and good armour with ex bf2 and ex rk.
Granted he could definitely use a bit more help (e.g. Ex bf3 hits mid, ex db4 pops up and is slightly faster) but in his current state I don't think he's completely unviable.
If he were to get some changes:
- ex bf3 hits mid
- ex db4 pops up (allows for bf3 midscreen or more in the corner)
- db4 5 frames faster
- bf2 -10 on block
- ex bf2 +1 on block
With just those I could honestly see him competing with the best of the top tiers.
Either way, I don't think he's completely trash. Certainly he's in a better place than unbrekable, Tanya, Assasin and fisticuffs