Yeah, pretty much. I mentioned Toad because he is the last iconic Nintendo All Star. I didn't mean to imply Sakurai has quotas, I'm saying that every series in the game is well represented character wise, including the series I said could use one more. If they add more Mario, Zelda or Pokemon characters that's fine due to their top popularity, but any other series, not so much, would rather them focus on bringing new series than add to niche series that already have a fighter
Well some of the series that you listed (outside of Zelda/Pokemon/Kirby since they are huge franchises with obviously lots of potential for great characters) can bring in some really neat fighters that can still 'fit' within a certain mold of Smash...sure they may not necessarily be 'All-Stars' but then again neither are some other characters like
for example...
Like say...for Star Fox (after Wolf gets in who is actaully a fairly iconic character just for his 'can't let you do that StarFox' quote) but there's also Krystal who would make for a very interesting staff weilder (that differs a fair bit from Palutena)
or say....King Hippo from Punch Out who could be a neat heavyweight fighter, he's actually a very notable character from the Punch Out! series...
just to list a few examples...
To be fair, Sakurai added Lucina because he originally wanted to make her a Marth skin, but he had enough time to make her into a full character. Roy was added due to fan demand. Sakurai at some point did say that he didn't like cutting out characters, so he added veterans like Roy and Mewtwo despite their respective franchises already having "too many characters". Basically, Lucina and Roy weren't added in for their merits, I don't think. I believe they were added as a treat for the fans. As much as I don't want to admit it, I actually do think Sakurai cares about reps to some degree. If I can recall, there was a SourceGaming article about planned characters, and it said that Sakurai was originally going to add Wario in Melee. However, Wario was scrapped, because Sakurai thought that the Mario franchise would have been "overrepped" if he were to have added him in. Then again, Melee was a long time ago. It's possible that Sakurai could have changed his mind about reps since then.
Also, I think the reason why Metroid doesn't have many reps is because Metroid as a series is about exploration and isolation from what I can see. There are hardly any reoccurring Metroid characters. The only other reoccurring Metroid character is Ridley, and we all know how that turned out.
As for Wolf, I honestly have no clue why he was cut, but it's possible that he's coming back for DLC.
As I said he's obviously taking it into consideration, He is well aware that fans don't want 15 mario characters and 30 pokemon, and he likely doesn't want that many either, but at the same time he's making other things a priority over representation such as, what you have mentioned, fan-demand; which is, to him, much more important than Fire Emblem having one or two extra characters...
Ridley is a bit of a special case...he's vastly popular and arguably the most heavily demanded character for smash of all time (K Rool is very close as well though I'm not sure what his excuse is), but Sakurai views him more appropriately as a boss character, if he cared more about representation he may have even tried harder to make him work...
Wolf was likely cut because of time constraints...it really is the only feasible explanation as he was a last minute addition in Brawl and
barely made it in then...
Also do you have a source for the Wario situation in melee? I haven't heard this, I thought it was because he tried to make him as a Mario clone and it didn't work out hence why he switched to Dr. Mario instead...of course I could be mistaken...