I actually don't want Travis at all, god no. But as much as i don't want him that doesn't mean i see him as unlikely. I also think that for as much as some people want the next third parties to be Super Mega Hype megaton bomb reveals................i wouldn't be surprised if they had instead nicher characters (at least, compared to the third parties we have in the roster obviously) there's a point when "diminishing returns" start hitting, and i wouldn't be surprised if FP2 is hit with this. After the likes of Joker, Banjo, Hero and Terry (i would argue Banjo and Joker already shown signs of this), an inevitable fact becomes apparent that the others are just simply not gonna compare.
Back in the Smash 4 days, people were doing the same "not big or popular enough" arguments against Bayo like they do with Travis now, especially because back then, a lot of Smash Speculation on Third Parties was like "THIS THIRD PARTY CHARACTER MUST BE SUPER ICONIC AND MAINSTREAM AND IF DOESN'T COMPARE TO THE ONES ALREADY IN THEY ARE NOT WORTHY" mindset, which was ironically erased with Bayo (just like how "ONE CHARACTER PER COMPANY" was fazed out by Ryu)
Smash's roster choices are like a totem pole, we have gotten a lot of major players, so of course the deeper you go the more obscure they seem in comparison to our Smash veterans. I mean a lot of people don't remember this, but while nowadays Waluigi is seen by many as a blantant missing Nitnendo icon...........back in the Smash 4 days he wasn't highly regarded, but because of the characters included in Smash, what was a character that was in the middle of the totem pole now looks like to be on the top, because the actual top is now in Smash. (at least, most of them, i guess Toad is still higher than him, and BDee is slowly rising)
TL;DR we may get one heavy hitter like MC or Ryu Hayabusa, but i wouldn't be surprised to see a nicher character, even if it's more "niche" than what's in the roster. There will always be characters who sell worse but get in Smash anyway, no matter the reason behind it.