Was it? I remember someone showing how the model was different.
Steve is the same with a few changes; they brought back his beard (though also made it closer to his hair’s color, I think the original beard is more orange-brown), and they made the bottom of his body purple like his pants (the original skin, even today, has the bottom of his body be the same color as his shirt for some reason).
Also maybe his skin color is slightly different, though maybe that’s Ultimate’s color/lighting engine in general.
The model itself is the same as in Minecraft, I think. Minecraft’s characters have one tiny pixel indented on the outer-most sides of their legs on the left and right sides of the body, I think to prevent Z-fighting with the textures; it’s hard to notice with Smash Bros., though, but it’s likely the same.