Survival of the Fittest doesn't really belong on the banned list in my opinion. There are several factors to consider:
1. Playing powerful cards is a major part of the appeal of playing the format. Two-mana cards *should* be powerful. At the 2cmc slot we have: Tarmogoyf, Young Pyromancer, Counterbalance, Sylvan Library, Dark Confidant, Hymn to Tourach, Stoneforge Mystic, Thalia, Price of Progress, Reanimate/Exhume, Cabal Ritual/Infernal Tutor, etc.
2. We have answers to just about every strategy, many of which can be played by *every* deck. There are multiple ways to deal with Survival: Force of Will, Daze, Spell Snare and any other counter spell out there; Pre-emptively it can be discarded by Thoughtseize, IoK, Cabal Therapy and so on; Abrupt Decay (which is even uncounterable), Disenchant, Wear//Tear, Engineered Explosives, and other forms of enchantment removal; Deathrite Shaman, Rest in Peace, Leyline of the Void, Relic of Progenitus, Surgical Extraction, and other forms of Graveyard removal; creature removal is present in every color, and many options can essential wipe the board entirely: Supreme Verdict, Perish, Anger of the Gods, Sudden Demise, Terminus, Toxic Deluge, Submerge, etc. There are also cards that stop the strategy pretty much altogether: Containment Priest, Grafdigger's Cage, Pithing Needle, Phyrexian Revoker, etc.
3. Having more deck archetypes that can compete with other existing strategies is a good thing; variety is the spice of life, and as previously mentioned Survival itself is easily dealt with if it were somehow too "problematic". It's a very different format today than what it was like back when the card got banned.
4. The best that the deck can even do is *maybe* swing for lethal damage at around turn 5 or so, and that's assuming no resistance from the opponent. Compare that to a deck that casts Show and Tell or Blood Moon on the second turn with the help of fast mana/Sol Lands, or a turn 1 SDT followed by a turn 2 Counterbalance, or perhaps a turn 1 Chalice of the Void set to 1. Unlike say Natural Order or Aluren, the card doesn't even really win on the spot if it *does* resolve.
5. The advantage of a 'tool box' makes for a fun, interesting deck to play and play against. Certainly more interesting than playing against some strategies, e.g. Miracles or something linear like Burn or dredge. The argument that it being a repeatable tutoring effect doesn't matter when you take into account point number 2 listed above. The restrictions that a Survival deck puts on deck building (i.e 20+ creatures minimum) means that the deck is also going to suffer because it may open with awkward opening hands with dead cards. You also can't expect to see SotF in *every* single opener.
Unban Survival of the Fittest. It's time for this card to be welcomed back to Legacy.