Not sure if it was already posted here but here's an interesting concept that could somewhat work.
I think the real issue is that we would be losing a lot of what makes the characters unique in the first place, they'd lose their individuality to fit a singular build. But if the smash team decides to put more emphasis on the Arms themselves rather than the characters wielding them, then perhaps it could work.
(And if they do take this route, i hope they at least change the victory animation for each alt, then i'd be more than happy to accept this decision).
Edit : images are broken again so here's a
direct link to the picture.