So, if you know me you know that I have pretty much stated in the past that Sora is absolutely, 100%, definitely, certainly, never going to happen in Smash becaus I interned at Disney Studios (The Film Division) for a little bit of time. I know how protective they are and I know how hard it is to get something out of then without them getting something in return and that still, absolutely, holds true to this day.
Now being in the film division I never really heard much about other goings on. There is a glimmer of hope for you Sora fans though. Very, VERY slight but it is something.
Some of my friends at Disney Studios that stayed on after I left know I'm a huge Nintendo fan and, hoo boy. They told me that Disney is actively trying to gain distribution and production rights in a Nintendo property for the upcoming Disney+ service. Of course, this is all VERY early so no one really knows what property they're trying to snag. My guess would be Zelda since, after Mario (Universal) and Pokemon (Warner Bros.), it's their most well known property available. Just my speculation though.
I want to stress that this is ABSOLUTELY hearsay. I have no way to confirm this and the way my buddies are talking it's looking like it's just rumblings within the studio. Because of the fact that Disney Studios is separated from Pixar, Disney Animation, Disney Television, etc. it's not exactly ALWAYS reliable
What am I trying to say? Well, Sora's chances may have just dropped from 100% impossible, to a solid 95% impossible. If there was ever a shot Sakurai could take for Sora it's now for this next pass.