Just want to specify, even though this is is primarily a banjo thread that it does not deconfirm Erdrick in anyway either. I frequent ERA as a user, and Tansuit (guy who leaked Cloud) is still pretty adamant on Erdrick as well, while being pretty cool with the Banjo stuff from Shinobi.
My guess is that BOTH are happening and BOTH are being geared up for a double release at E3. Why? Because Sakurai has confirmed he worked on the first 3 characters since the beginning (December 2018), so its reasonable to expect the 2 after Joker to be relatively close. On top of this, Tansuit and Shinobi are very legit insiders, one having Square connections and another having Sony/Microsoft connects.
Im just trying to say, dont be shocked/disappointed if Erdrick is announced first, because Banjo probably will follow suit. By this time next week, we may have a lot of happy people on this forum.
Ps. Im ****ing flabbergasted by the idea that Smash finally will complete its 64 lineup of icons after 20 years. And Dragon Quest is the grandfather of JRPGs so ik excited about that prospect too. East and West games coming together like this will never happen again