If he's not in the game, it actually shouldn't come as a surprise. You can never take it for granted that a character is going to be included in the game, just because he's really popular amongst the hardcore Smash/Nintendo fans (Ridley) that actively participate in discussions on forums etc. You also need to take into consideration that there's hundreds of thousands of votes sent in by "casuals" that just aren't as interested in Smash/Nintendo as we are. I have 16 friends who voted in the ballot, and none of them even know who K. Rool is. They simply don't have the same relationship towards certain characters that we do, and because of that, I wouldn't be surprised if we get something totally bland, such as Goku, Yasuo, Shy Guy etc. Really sad when you think about it.
However, I don't think this is finished. We'll just have to wait and see, and keep our hopes up