Thats a nice theory and I really want to believe its true. What a world we live in where Smash could be in the Olympics. It almost beat Karate into the Olympics :O
Why do I have the feeling they would go with Smash 4 instead.
True story.
Smash 4 isn't competitive, it does not really require dedication, everybody is able to perform all sort of combos with no real effort with this I'm not saying that Smash 4 won't be at the Olympics, but it won't last much if it reaches the Olympics, we're talking about an official representation of one nation at a global scale, popularity does not really matter, rather gaming quality, something that challenges the senses of humankind to their limits and beyond.
Games with low skill-cap won't last much within a highly competitive gaming and after the Olympics, the competitivity will drastically increase.