One thing I'd like to say this to not think in terms of things like "We want X to counter CAP5." or "We should not give CAP5 move Z in order to let X switch in for free". W should be focusing more on thinking of how CAP5 will interact with the proposed "checks". By virtue of it's typing, we already know most bug-types can switch in and threaten with their STAB, but how many of them can, really? Caterpie aside, all of them can force CAP5 out with a bug move because of the quadraple weakness. Heck, some mons might even run coverage moves in order to do this; we might see HP Bug Keldeo more often for all we know.
Don't forget our concept too; we're aiming to lower the usage of more popular types while raising the usage of lesser used types.