So long-time lurker, first time poster here, I've been thinking over in my head for the last few days on whether or not 5 would actually be Lloyd, and when I looked over what people have been thinking and saying it made way more sense in my head for him to be post-pass rather than number 5. Enjoy this crackpot theory/ramble.
For one, Lloyd had a Mii costume in Smash 4, pretty obviously due to the ballot, yet unlike pretty much every other DLC Mii Costume, he got NOTHING in the base game. Inklings, K.Rool, Chrom, and Isabelle are all playable, Zero, Akira, Knuckles, and Black Knight are all new assist trophies, Heihachi and Gil are part of Pac-Mans taunt, Protoman got into Mega Mans Final Smash, Monster Hunter got an entire boss fight, and even our boy Geno got one of the strongest and most unique spirit fights in the game. Every single other Smash 4 mii costume was from a character already in the game either as playable already, or as an Assist Trophy, part of a stage, or another characters moveset/Final Smash. Lloyd is the ONLY exception to this except for Jacky, who came with Akira. If Sakurai actually planned for Lloyd to be in the game, why would he be DLC? Namco was clearly ok with him being in Smash 4, they literally developed the game with Sora, so if he was actually in it's not like his rights would be hard to negotiate. Even if he was planned for base game and then pushed off into DLC, why would he be the LAST character in the original DLC plan? It just doesn't make sense.
Going back to the whole Power of 6 Mii Costume Theory, people assume that it helped Lloyd for Number 5, but why? The fact that Heihachi suspiciously didn't release with the fighting game costumes means that, according to the theory, it was moved to release with someone else, likely another Namco rep. But if Lloyd was planned for 5 why didn't they just plan the Heihachi costume to release with Lloyd in the first place? Because he wasn't planned. Based on what Fatman said about 6 and 7 likely being made with existing smash assets, and what Sabi is saying about Lloyd not being 5, in my mind It's extremely likely that Lloyd, and by proxy, Geno, are the fist 2 characters we actually get for post-pass DLC.