Here's the thing, Geno may come but despite how much Sakurai say he wants to include Geno it's obvious that Geno is less of a priority to include. There was chance that this Fighters Pass was going to be the last DLC since the continueation depends on how the DLC goes and it seems Sakurai would be contempt to end Ultimate with Geno only being a Spirit. I do think that while Sakurai likes Geno but it seems like Geno is below the list of priorities.
By that logic, you have to look toward Fatman's comment about FP2 being "drunken wishlist shopping".
Banjo likely being the ONLY "non-Sakurai" pick in the first Fighter Pass was probably due to him being the top dog of fan requests now that Ridley and Rool were base game. With Banjo in, Geno is UNEQUIVOCALLY the next in line as the ultimate "long-requested, otherwise-irrelevant dream pick".
I think people are too certain about this idea that all of the Fighters are Sakurai's personal choices. It's easy to say any game means a lot to him when he's a game developer who has played a multitude of games and likely appreciated all the notable ones. Terry certainly has a special place in his heart, Dragon Quest too. But this idea that all of the fighters are Sakurai picks is bogus.
I know it feels like I ONLY post to rant about this topic, but SERIOUSLY:
Hero aside, NONE. Absolutely ZERO of the DLC picks make ANY LOGICAL SENSE as DLC characters for NINTENDO to pick. They ONLY make sense as characters Sakurai would PERSONALLY want to see in the game, either due to PERSONAL attachment, or his PERSONAL ambition to realize fan requests.
Why on EARTH would Nintendo pick JOKER, a character with NO NINTENDO TIES, over a NEXT-GEN POKEMON, or AN ARMS REP?!
Why would Nintendo EVER pick TERRY BOGARD, a (for all intents and purposes, in modern times, FGC legacy aside) Literal Who, that promotes Nintendo in NO major way, over a THREE HOUSES REP, or an ASTRAL CHAIN character?!
Ignore the fact that Sakurai FLATLY SAID "Nintendo gave me options, I picked from those options".
Ignore that Sakurai PERSONALLY LOVES EVERY SINGLE FRANCHISE that has been represented so far (Banjo aside)
In what POSSIBLE UNIVERSE would NINTENDO choose to promote BANJO-KAZOOIE, PERSONA 5, AND KING OF FIGHTERS over MINECRAFT, FORTNITE, AND OVERWATCH ON SWITCH?!