I'm not sure if it's quite time to create a separate format for Burst Limited just yet, but I do think it is something worth discussing for the time being.
Personally, I agree with most of the banlist Rebel Blader proposed, though I do have a few alterations in mind:
Layers- Maximum Garuda
- Legend Spriggan
- Seig Xcalibur
- Alter Chronos
- Drain Fafnir
- Lost Longinus
- Blaze Ragnaruk
+Added L2: Until Drain Fafnir and Atomic were released, Lost Longinus 2Glaive Hold was a pretty nasty combo - with a good Hold, there wasn't anything that could beat it consistently - Neptune/Odin/Chaos/Deathscyther Yell Revolve were the only things that stood a chance. With its lighter weight and higher Center of Gravity, the Yell variant was easier to beat (if God Disks get banned, Yell was the next best choice for L2 Hold), but L2 as a whole is a bit too tanky to really keep in the game.
+Added bR:With all of the subsequent God Layers banned, I could easily see Blaze Ragnaruk becoming the go-to Stamina/Defense hybrid, and that combined with its decent Burst Attack would make it a bit too dominant in my opinion.
-Removed gK: I don't own Guardian Kerbeus, but based on what I've heard it doesn't sound banworthy - it's just another Acid Anubis/Deathscyther, a Layer with high Stamina but low Defense. Good, but not dominating or unbeatable by any stretch of the imagination.
-Removed D2: This one I'm still on the fence about - with Atomic out of the picture, D2 would not present as much of a threat as it did in Standard. I could see D2GO or D2GD being formidable combos, but several things (gK, Deathscyther, gV, Odin, (Iron) Stallers, Yell, Defense, and possibly A2) should be able to keep it in check. If it does end up being too powerful, it could always just be re-banned.
Disks
Not too sure if any Disks need to be banned - 4G and 7G are sure popular nowadays but with the near-complete absence of opposite spin with dF and L2 gone I don't know if they'd see as much use. They are significantly heavier than normal Disks, so maybe God Disks should be banned entirely/only be allowed to used without a Frame? I've personally found naked 4 to have around Knuckle-level Burst resistance. What is everyone else's thoughts on this?
Drivers
Atomic is definitely an overcentralizing part of Standard format - it's currently the best Driver for Destabilization and Precession, has the raw Stamina to outspin Defense, and also has some decent Burst Attack to boot.
I also think that a Burst Limited that removes a lot of the overpowered God Parts would give some more underappreciated or overlooked Takara-Tomy parts (Weight, G2, Q2, Down, Z2, and kS are a few examples) a chance to be useful, as well as opening up the playing field to the oodles of Hasbro releases that have been ignored just because somehow people got it into their heads that "Hasbro makes a poor product". Spryzen S2 has shown potential as a Mixed Attacker, and supposedly Roktavor has about the same amount of Burst Attack as TT Valkyrie without the wearing issues. There's bound to be more Metal Fury Scythes waiting to be discovered.
Saying that Hasbro's Burst sucks because it can't compete with current TT releases is basically the same as saying "Hasbro's MFB sucks, Gravity Destroyer and Ray Striker can't beat Duo/Flash/LDG/Diablo at all".