No matter what happens, I am really hoping we can get at least 3 new unrepresented franchises into the fighter roster in some way, shape, or form. I don't have a complete preference on who, but I have some ideas.
For one, I figured I would mention first parties. I hate to break it to everybody, but I am pretty confident that being a spirit at this point practically dec-es the character from becoming DLC. At Exhibit A, we have Bandana Dee. I am highly confident that Bandana Dee will finally be included as a DLC character with him being both highly requested AND not appearing as a spirit from what we have seen. Unless we see a screenshot of him as a Spirit, I think he's a good bet. At this point, I also would have included a Rhythm Heaven rep, but because Chorus Kids AND Karate Joe being showed off as spirits, I think that department is no longer safe for viewing. Instead, I personally would love to see either a new Legend of Zelda rep, or a new Xenoblade Chronicles rep (but not both). If this were to be true, I would predict Impa and Elma respectively. Either of those characters + Bandana Dee are my personal choices to take the two 1st party selections.
From here we move on to the unrepresented series/third party choices. Now, a couple of these choices that I originally had, such as Crono from Chrono Trigger, Saki Amamiya from Sin & Punishment, Amaterasu from Okami, and Neku Sakuraba from The World Ends With You, were once very high on my list back during the base game, but began to quickly die down after E3 of this year. I figured I would mention those characters because they have very active fanbases, and I used to wholeheartedly support them, but I realized that the relevancy was not there from Nintendo consumers, and if we are talking DLC speculation, would not get the people talking or have the majority Smash Ultimate buyers excited to purchase them (even if they would all be incredible fighters in the roster and would fit into the roster very well.)
The final names that I still think very much deserve a spot are Rayman from the Rayman series, Banjo & Kazooie from the Banjo Kazooie series, and Crash Bandicoot from the Crash Bandicoot series, with runner-ups going to Spyro, Professor Layton, and Heihachi Mishima. Rayman, Banjo, and Crash are my personal final three picks for DLC and who I want the most, because these are some of the biggest/most wanted characters who have yet to be added, and these would be the types of characters that would generate the most hype, and are rather recognizable names to say the least. Out of these though, I think Banjo is the least likely, but I included him due to the amount of support he has for his inclusion.
My only problem with my DLC list (and it's a picky thing) is that all but one of the characters are very... cartoony. If we recall Sm4sh's DLC, we had Lucas, Ryu, Roy, Cloud, Corrin, and Bayonetta ALL being very much human(oid), which is 6/7. The reason I mention this is that the picks I put forth really aren't, except for Impa/Elma, making 1/5 being human(oid). I just have a feeling that in the DLC, we will be more likely to get human(oid) characters than cartoony ones. I am at an inner conflict as I'm writing this, because I still really want to see Lloyd Irving be more than just a fighter in Super Smash Flash or a Mii Costume. Same goes to Heihachi Mishima. Professor Layton and Phoenix Wright would be very cool to see in Smash, and these are the characters that I feel Nintendo is looking for. Dragon Quest definitely needs a rep, would Erdrick work? It could also be Slime, but that would go against the human(oid) argument. As long as it doesn't replace Elma/Impa.
So basically, I'm indecisive.