You know, looking back at the Sephiroth presentation, I think it's really interesting to dissect the psychology behind what happened. Think about it: Historically, the mii costumes have always come at the end of the presentation, never at the beginning if memory serves. Now, why would Sakurai choose to do that? Some reasons could include:
-He wanted to rip off the band-aid for Geno, knowing how many of us were biting our nails over it? Considering the fact that he knew how much of a fan base Geno had, I think this is certainly a factor. But also consider this—the last time he presented the costume, Geno got a special mention, a splash screen, and basically a mock reveal. This time? No splash screen. No special entrance. Sakurai didn't even mention Geno by name. All we saw was "Smash bros X SMRPG" with the "Beware the forest mushrooms" in the background. Geno's name was only referenced in the Mii pack graphic for purchase. So why give the puppet a special nod in Sm4sh, then virtually toss him over your shoulder in the next game? Because he no longer gives a ****? Because if he did he'd go into a rant about his puritanic Mario overlords? Maybe. OR....
-Notice how his segway into Sephiroth's presentation now draws our attention completely away from the Mii's to focus on the character at hand. The general viewership has now move on, casting the apparent death of Geno into the back of their minds. What if this was by design? By having the Mii reveal first, it ensures that the last taste in our mouths will be Sephiroth and not the Mii's. Again, this could be to soften the blow of Geno's death, but what if it's because he purposely wanted to sweep Geno under the rug? What if he purposely wants us to dismiss the chances of Geno ever coming...because it was the most effective way to shake leaker expectations? Sakurai lives for the shock factor. He always strives for the unexpected. Let's be honest, what could be more unexpected at this point than a Geno fakeout? Could there ever be a more ridiculously epic underdog reveal?! Granted, Geno's chances are still incredibly low and I'm fully aware that this line of thinking is a long shot, but if Sakurai really thinks that an unceremonious execution is the way to end a long time known fan favorite, that's pretty poor taste if you ask me.