So Kabal as a Character:
Everyone pretty much knows -- he's a beast. Has the tools to win in any situation.
Kabal as The Destroyer of All MK9 Tournaments:
Overrated. The image of Kabal as the dominator and winner of most Mortal Kombat tournaments is mostly due to one player. Despite all the months the game was out and all the people that picked up the character in order to win, hardly anyone was able to repeat their success.
There was a period when things looked bleak (around Anaheim 2012 through UFGT8 and Summer Jam) but after going through a tough period, the community levelled up and Kabal hasn't been an easy ticket to victory ever since.
People always say "But Michaelangelo", but at that time it was also just as much the player and not the character. Kabals in earlier days did not look like exactly they did now; you'd see guts that didn't use as much IAGB, sometimes gets zoned out by other characters, and hitpeople with naked f23's because they don't know how to block yet (watch Online Tony). Mike was a seasoned tournament player before he ever picked up MK9, and it was mainly his skill as a player that won him those tournaments, and not necessarily the full-fledged Zoning Flash Parrying Oppressive Runaway Rooftop Day Jail Monster that Kabal would eventually become in the Kevo/REO/Detroit era. Plus, there were characters who had far more broken BS at this time who would eventually be nerfed, leaving Kabal in a different place in he Tier List.
Kabal as a Tool to Win Certain Matchups to Make it into Top 8:
Still just as valid. There are people that go to Kabal at times when they would otherwise lose a set. But, the same could be said of Sonya, Kenshi and other characters. Kabal is still a valid MU counterpick tool, but as you saw at VxG, no one should expect and easy meal ticket now that players of a number of other characters feel a lot more comfortable in the MU.