The thing with Geno on the list is that he's a massive outlier in multiple ways:
1) He's a hot mess of legality, being from a 1st party series, yet being owned by a 3rd party.
2) Verge was told he was leakbait, but that his source thought so for personal reasons they would not disclose.
3) 'Don't take him too seriously,' was what his source said to him to 'let him down easy' that this Square rep in particular isn't Geno.
The only other outlier on the list is Sora, who he says 'definitely isn't in', compared to Geno's being phrased as, 'it isn't Geno,' it being this particular rep. What fascinates me are those last two points.
The fact of Square using Geno as leakbait or as some other sort of distraction shows that they know that he is a fan favorite. They know that he is in demand, which is incredibly fascinating to me. This is a step up from Square likely not knowing what the consensus on Geno was, let alone not caring about him for being a 20+ year old character from one game. This, the spirit, and the prior game's (and maybe this one's) Mii costume are indicative that they're willing to use him, as well, even if only to a certain extent. It's a large leap up from before, and even if Sakurai tried his best to pull some strings, if there was no desire to ever use Geno again, they easily could have made their stance a firm 'no', yet they haven't. They've allowed it, and that's a big step forward.
However, what gets me is the vagueness of Verge's source. I can't say I'm sure why they'd let Verge down 'easy' that this rep isn't Geno when, from the looks of it, he notably seems disgruntled against Geno and his fanbase. It might just be an outward appearance-type thing and Verge's opinion is different than I thought. They sound insanely certain about Sora, the other five on the list are in limbo, and Geno is noted with a strange amount of hesitance. It makes me wonder if the source knows more than they're leading on about Geno, whether or not it's as this Square rep, yet they have to keep it under a tight lid because of how secret it is. After all, the lesser amount of people who know the info, the easier it is for Square to find out who's leaking stuff out.
For everyone else to have a straight answer of being names heard or outright deconfirmed versus the weird state of ambiguity Geno is in, it makes me wonder if Square has plans for him yet. Is it just the Mii costume? It could very well be. Is it more? Perhaps. However, we just don't know. Thinking of this in conjunction with the NoA rumor about Geno, though, is interesting. These came from Polar's source's supervisors. That info comes from higher ranks in Nintendo, not just small-name employees spreading stuff without a basis. It makes me wonder why that rumor began to spread in the first place, and what planted that seed. Is it just assumption? Could be. Supervisors are more careful with their information, I'm sure, but they aren't infallible. Could it be because of a glimpse of what seems to be material for Geno, when it's actually the Mii costume being ported? Could be that, too. Could it be because he's being planned for some other, miscellaneous DLC? Maybe. Could it be because there's something planned for him outside of Smash? Maybe.
It's all just a big load of question marks, and for all we know, the fruit of it will be little to nothing... or something big. The net is cast wide for Geno's fate in the recent future, with a lot of chances for it to be a bunch of nothing and quite a few for it to be something substantial. It's a hot mess, and I can't say if it makes me hopeful or just baffled at the entire situation. Maybe both?