Let's clear it up a bit;
We do allow non-game characters, as long as they are both Nintendo-owned and also had a video game appearance. Captain N, for instance, has no video game appearances but is owned by Nintendo as a character. Which means he can't get a thread.
Characters who didn't originate in video games(or a video game franchise) and are 3rd party(meaning Nintendo doesn't own them at all. Do note if Nintendo partially owns a character, talking to the Moderation before making a thread is a better idea. Likewise, ones you aren't sure are eligible for a thread should be brought up to us first) are not eligible for a thread. While anything can change in Smash(as it constantly removes fan rules and such over and over), we're currently sticking with this rule as we already have examples with R.O.B.(who is not a video game originating character but is owned by Nintendo and did appear way later in an actual game. He's more of a game controller, but not a literal game character). Another example is Nester, who originated in the Nintendo comics(coincidentally so did Captain N to some degree), who eventually appeared in some games, which made him eligible for a thread.
I do hope that makes it more clear on how our rules currently work.