I'm very biased towards Min Min, as she is my favorite from this cast by far, but here's why I'm incredibly hopeful the Arms character rep is the Ramen Bomber!
First of all, she is the winner of last year's Party Crash Bash, defeating immensely popular characters including Twintelle, Springtron, and Ninjara!
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What better way to see these artworks come to life than in a CGI movie showing the Party Crash Bash play-out with the Ramen Bomber coming out on top during the June direct and releasing near or at the time of Arms third anniversary, the same time this Party Crash tournament concluded!
Also... Arms' producer, Kosuke Yabuki, is on the record on saying his favorite character is Spring Man and
Min Min. He's mentioned this in various interviews, but here one from 2018:
"This is more of a silly question I guess, but who's your favorite fighter and arms combination?
KY: So if we're talking about just who I've played the most for a character, I'd say it's Spring Man for sure. The standard Spring Man with the two toasters is actually, just in terms of numbers, that's probably the set up I play with the most. It's very ingrained in me at this point.
And then talking about maybe just purely from like a favorite standpoint, I would say Min Min as well. I've said that quite a few times I think in interviews when I get asked that too, usually Min Min. I think part of that, kind of the joke answer to why Min Min is because I really like ramen. But maybe the game-related reason is also with her left arm being able to power up into that bigger dragon arm. She has aspects that other characters don't have."
Source: https://www.usgamer.net/articles/arms-postmortem-interview-kosuke-yabuki-twintelle
Why is this relevant? Well, because if the Fire Emblem stuff isn't evidence enough, insider influence on top of popular demand plays a role in influencing Sakurai's decision in choosing a character to turn into a fighter for Smash.
Now that said, Twintelle has shown to be popular, in the west, on social media. The factors that play into that are many, be it ethnicity, big butts, or what have you. A certain forum hasn't been shy in displaying their desire for Smash to have more characters with darker skin.
But Min Min is also a female character, so I think she will still manage play well to that western crowd who also think Smash needs more women in general.
That said, I don't like or care for political stances. The 'PoC' character I favor is Elma from XenoX, but that's largely influenced by the fact that I'm a huge fan of Hiroyuki Sawano, the composer for her game.
And of course, as my avatar suggests, my most wanted character, by far, is Isaac from Golden Sun. That is the game I cherished most growing up, and that character was my bridge to that world.
So yeah, I think Min Min has a strong chance to be fighter 7 here. I'm super excited and hopeful that it is her. I've described why she's my favorite of the ARMS cast in the newcomer thread dedicated to her. If the DLC fighter is Min Min, she will be the first newcomer in Smash Ultimate I'll be legit excited for and would main instantly.
If the fighter ends up being someone else from ARMS, well, it'd be a bitter pill to swallow, but I'll be happy for those who got what they want. But for now, I shall be optimistic for the Ramen Bomber. Let's go, Min Min!!!!