The overhauls we've seen for characters make me more and more confident that Ganondorf is getting revamped.
Some of the changes:
Pit: New up, down and side specials. Some new standard attacks. This makes him reflect KI:U more. The Final Smash change is presumably because of Palutena (it does give the three sacred treasures a place to go as well)
Bowser and Yoshi: changes to their posture. Bowser gets some new moves as a result, and seems buffed. Possibly more significant changes to Yoshi that are yet to be seen.
Zelda & Sheik: They're separated, and get new down-B's, some significant changes. Sheik gets even more changes, seemingly replacing Chain.
Luigi: Gets Poltergust, reflecting his starring roles.
Donkey Kong: Finally gets a rolling dash attack, reflecting DKC.
Kirby: New Final Smash representing a recent game. Rocket hammer for some reason...
Peach: Gets some random new effects.
Olimar: Gets a new up special, although in this case I think balance/technical issues were more of a factor.
ZSS: Gets rocket boots... for some reason?
Given how many characters are getting new things, almost all of which better reflect their games, it's hard to think that Ganondorf won't get some significant changes. He might still have some similarity to Falcon, but he's gotta at least get a new special move or two. But I wouldn't be surprised if he got his sword or trident.