I am not sure if I will agree with the pessimistic or optimistic side of me by tomorrow morning. But I do want to fully address why I initially felt skeptical of Elma yesterday for proper context.
Bringing my point about 6 month early period and connecting that to December's first proposal and Xenoblade X's release, the window of opportunity for Elma to be considered would have been 2 months too late, too late that she might have not been considered at all. And even though True Blue Warrior stated that the international release was part of Corrin's inclusion, I feel Elma's international release would not count because Ultimate would be a different ballgame entirely. He would not account XCX's international release because by the first proposal, Elma's game would have already come out and the Ultimate release window would have been 2017 or 2018, it would not make her an effective promotional candidate at all like Corrin, and the game would have been outdated by Ultimate's release. The timing of Fates internationally and the last Smash 4 DLC fighter release made Corrin a prime candidate at the time. This would not benefit Elma in the case of Ultimate. Either Sakurai planned and kept Elma in mind to be in the first project proposal sometime in October before the 29th or its a bust. The length of time Sakurai had to make the first proposal will make-it or break-it for her chances. If he had several months to plan before December, maybe she will make it, but it could also go the other way around.
That is just what I currently feel right now. I just wanna fully express my perspective so we can keep in check of our expectations. Maybe there is a flaw to my argument against Elma. Feel free to argue against it, I need a discussion right now. lol