If you think that a meterless DP that also has the side effect of providing further pressure when done with your opponent in the corner and is + on block is mediocre simply because you have to then play chairless Beowulf and because it isn't throw invincible (with throws providing no follow up pressure if you escape them unlike a blocked normal and providing a scaled combo on hit) on a character that has a bunch more metered and meterless reversals then perhaps you should go play some characters that actually have mediocre reversals so you can learn what that means. Making H chair fully invincible and giving M Chair item drop tracking would also be really dumb for pretty obvious reasons.
Okay, so first, you didn't address the "can't do it at will" bit. That's kind of important.
All the other meterless reversals can be attempted at will. What this means is that they can do it whenever they want. The closest possible resemblances are Pillar (because it's a charge move) and Fiber-H (because it has different properties from Fiber+H). Pillar being a charge move means that players have to decide upon doing it at least 30f in advance but can otherwise do it at will. Even if Fortune
couldn't Fiber while -H, the head can run back to Fortune
and always hangs out at the edge of the screen even if it were last left in a position further away. It's not like H Chair puts the thing within easy reach, either-- unless you are throwing it into the corner you are always forced to be an entire screen away from the chair after the DP.
So, off the bat, it's Punch Move but you gotta walk across the screen (because Beowulf can't run or wavedash) or leave and tag back in (not DHC, not Alpha Counter) to use it again. Yeah, it's much safer than Punch Move, but Peacock can Punch Move
again if the opponent baited one but didn't properly punish it.
None of this considers the chip, which is why I even mentioned it in the first place. If you don't reverse pressure successfully with H Chair, you
die. Of
course H Chair causes pressure when it hits the opponent. Can you imagine how fucking useless it would be if it didn't? Even if it were merely unsafe instead of punishable, any normals the opponent throw out are guaranteed to cause damage. Blockstrings are a gigantic threat, to the point where extra chip is partially rolled back in the Beta due to specific blockstrings being more damaging than confirms using the same moves.
If your complaints are right and the chair is too good at pushing you out, then making it fully invuln wouldn't make a difference. If it's not, then congratulations, you managed to deride one of the riskiest moves in fighting game history because it's
not risky enough.
Additionally, what bunch of meterless and metered reversals? What other meterless reversals does he even have? A 7f s.lp with a terrible hitbox? Gigantic Arm isn't awful as a reversal despite the damage scaling and propensity for getting low-profiled by any crouching animation, but it's also useless as a combo ender or extender due to damage scaling and incredibly finicky followup requirements. Its primary use is to frametrap players who try to punish chairless c.hp.
M Chair tracking suddenly makes it viable outside of the corner. Do you actually even know where it lands? The opponent has to be inside Beowulf's body for it to hit on the way up and physically contacting Beowulf for it to hit on the way down. All the cool mixup options require the opponent to not press any buttons at a distance where any of their buttons would fuck you up. Oh yeah, and it costs you the ability to DP for a couple seconds. And you lose your launcher. And you lose your disjointed hitboxes. And you take extra chip.
If you were serious about the "go play some characters that have mediocre reversals so you can learn what that means" bit, then my only recommendation is that you do some homework on Skullgirls and its players before you put your foot in your mouth again.