You know, it's entirely possible that plans for Hayabusa might have been changed or even dropped for Smash.
Let's consider the following...
1: Some insiders, including Vergeben, heard that Hayabusa was arriving in pass 1, yet he was nowhere to be found
2: The only game in the NG series that got rereleased at the time was an Arcade Archives port for the arcade game, so that probably wasn't enough to justify taking the risk of putting him in Smash (Simon and Richter did at least have rereleases for their games)
3: Koei Tecmo and Nintendo higher-ups, to represent their collaboration, most likely settled with including Byleth, since Three Houses was made using assets provided by KT, so like I've said to
[IMG alt="TDDolphin"]https://smashboards.com/data/avatars/s/452/452402.jpg?1604625881[/IMG] TDDolphin they're essentially an unofficial KT character