We don't know when the roster was finalized though, right now all we have is speculation, plus we don't know when fe switch started development.
Besides the Iceclimbers I don't think we have any idea what returning veterans/newcomers are coming. All we can do is see that 1. The amount of characters in the roster has increased substantially and 2. The amount of stages has also increased. Same with trophies and the soundtrack. Whoever doesn't think the roster will expand greatly again is kidding themselves. Historically the only characters that have been cut are clones (lucario is thought to replace mewtwo I know their different but most people see them as the same.) of other characters, except for Iceclimbers and snake who are special exceptions, they were cut due to limitations and third party diffulculties respectivley.
All fe characters except for Roy and Lucina are unique in their own right, and play very diffrently from one another. What people fail to realize is that relevance has only mattered for pokemon.Or will you tell me that ROB olimar and game and watch dr mario, heck even f-zero isn't relevant anymore(yes I know captain falcon was in more than one installment as well as gane and watch) but you know what keeps them relevant, the fact they came out in smash bros once is what keeps them coming back. That brang back mewtwo and Roy and that is what keeps characters coming back despite popularity. So it doesn't matter recent or not, to Sakurai it doesn't matter if their "relevant enough" to be in the game he wil put them in the game if he wants to or not, yes popularity helps them to get in, but once in they could come back anytime. Characters don't take other character slots all of them are included for a reason and Fire Emblem a once obscure franchise is now mainstream and one of Nintendo's most profitable, does anyone really think it will get a major roster cut and not get new additions even if it is by dlc. Once a character is in they are part of smash history, nay they are part of the smash family and can never be forgotten. If you don't think that much characters will be added than you must know to keep that roster number up and look like an increase they need to keep as much chacters in the game as possible and cutting more characters makes that much more harder. Those that think half of the fe roster will be cut as well as think they won't add that much characters are living in a paradox.This is the era of the Switch, not the failed Wii U, raise your low expectations , because we don't get ported zelda games we get Breath of the Wild, we don't get a mario galaxy three, we get a mario odessey. And we won't get a shared version with the 3ds, we are getting a pedal to the metal full on sequel. Gone are the days of one in a million being nintendo gamers and disapointment from sales. The glory days of the Snes and Wii will soon be upon us, don't try brace yourselves for dissapointment Nintendo is striving for excellence again.