Wouldn't be surprised really. While it could be redundant, Technically Wario and Yoshi are Super Mario characters and they have their own logo because they also have their saga for themselves (Wario Ware and Yoshi's Island, Yoshi's Woolly World). If you compare these games are pretty differently and makes sense.If Elma was in would you think she would have the same Insignia as Shulk?
Personally i would love it would could get a stylized X to represent all Xenoblade's games
For example, Fire Emblem, each hero has his own game, but they don't appear in other games (maybe cameos but that's it). So they all have the exact same logo, the difference between these two examples is that they don't appear in more than one game (Ike as exception) and also, they all are practically represented with that sword because all of them are swordfighters in one way or another.
Also, gameplay-related, that Yoshi's and Wario's games are very different from Super Mario Games, unlike Fire Emblem ones, yes, some gameplay mechanics change but the game itself is what it is.
Having these two things in mind, it's a bit weird, because following the "rules", theorically are different games, so it's a bit weird that Elma could be represented with the Monado, but Xenoblade X is much more different than Xenoblade 1 in terms of story and exploration but in terms of gameplay have some similarities.
Personally I'd rather have both, i think the second logo fits a lot better for Elma and the first one for Shulk. But I wouldn't mind at all if Elma is represented with the first one. After all, Elma in Smash is the best thing that can happen for me in this game. Although i'm keeping my expectations low.
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