Maybe I'm biased because I loathe when Smash is edgy, but I heavily doubt the changes to ratings in relation to game title references will change anything about a future Smash game - they've already worked around it, and have since very shortly after Ult's launch (arguably Melee depending on your preferred explanation for Perfect Dark being called "TOP SECRET"), the only major series staple that is at risk of getting the axe (that didn't already in Ult) is... probably series symbols, and even then I doubt that.
There’s also the fact he was responsible for sound effects from all the older Nintendo games. His sound effects are easily the most recognizable in video games and basically completely set the mood in older Nintendo games like Mario, Zelda and Punch Out and that’s important to note with his legacy too.