How can we make ghost rider as good as magneto?
Well it's hard to balance a character so that they are as good as Magneto... technically not even some of the best characters are as good as Magneto because of how versatile he is.
But making Ghost Rider so that he is a tournament staple character is not that hard once you identify what his main weaknesses are.
*No way to hit someone air to air or at super jump height. This is a hole in his design which allows him to get zoned out by super jumper.
Fix: Give him the ability to use moves like Chain of Rebuttal in the air (a forward mid air whip attack that causes wall bounce and some chip damage). FChamp's fix was that they just give him a new normal which is mapped to f+H in the air which is essentially the same thing only IMO giving him Chain of Rebuttal is an easier fix.
*No real way to pressure blocking opponents aside from making them block assists. This makes his "zoning" non threatening and gives you plenty of time to cheese him out or open him up.
Fix: You can make some of his normals do chip damage. I don't want all normals to do chip damage but he needs some threat on his whip even if you block them.
*No way to legitimately open up the opponent.
Fix: This is optional IMO because if you give him chip on normal he probably doesn't need this. If you don't give him chip on normals like FChamp, then you need to give him Skrull like mid screen command grabs. You can charge some of his grab specials so that they become a true command grab. This would be balanced because the start up would be high.
*Generally bad hypers
Fix: The bike hyper should be very invincible and the whirling chain hyper should be very safe on block. While many characters still can't punish it, it's still negative on block when it's a hyper meant to create space and make clutch breathing room for him.
*Terrible aerial hit confirms
Fix: Normally Ghost Rider has a hard time doing basic MMHS or confirming a combo off a raw launcher. This is because of his j.H. If you make it special cancellable into an aerial Chain of Rebuttal you can probably fix this issue. Or you can give him a ground bounce follow up to st.S like Vergil has one but you can only do it once.
*Some special moves are still not good at all
Fix: His Yoga fires should be chargeable and be releasable as full screen fireballs like Firebrand's fireballs. The one that he points to the ground should create a flame carpet. Options changes but it would make him a more complete zoning character IMO.
FChamp also gave him a double jump which IMO is fine because it doesn't really change much on his design. Not enough characters in the game have double jump as it is.