One thing I would predict appearing in Smash at some point is a Chinese rep - not nationality wise but rather a character owned by a Chinese company - for obvious reasons, however I can't find many notable video game characters owned by Chinese companies. Ignoring non-Chinese companies owned (partially or otherwise) by Tencent, the only Chinese publisher with characters (or "a character" would be more accurate) who could logically get into Smash by any stretch of the imagination is BillionSoft - who currently own Bubsy, who has almost 0 odds - I wouldn't call him impossible exactly given he is a very popular character in Western territories (albeit not for flattering reasons) and does have a large fanbase, even excluding his ironic fans, but he comes VERY close to impossible given his infamy isn't as strong in Japan. The only way I could see Bubsy getting in Smash is if a future Bubsy game defeats the odds and ends up being actually good, even then it'd have to be REALLY good to destroy Bubsy's bad rap.