I generally judge a character or franchise by, well, the character or franchise itself, not whatever company just so happens to own it so honestly as someone who is a huge fan of Overwatch I'm still not really against Tracer being in Smash, as Tracer herself is cool.
I haven't exactly been following this Hong Kong/Blizzard situation as much as others though tbh. From what I gather, some competitive player for a Blizzard game spoke out against the Chinese government and Blizzard banned them, if I'm not mistaken here (by all means correct me if this very basic description is off). I dunno, it sounds like a ****ty decision on Blizzard's part, but maybe it was just a "we don't want players dipping into controversial stuff" thing and not a "we agree with China and hate freedom of speech" thing (again, if I'm off here and Blizzard actually does support what Chine is doing, by all means correct me). Not trying to defend or support Blizzard's decision or say it was good, but just curious about Blizzard's motivation or reason behind it, I guess.