Let's guess the contents of tomorrow's Challenger Pack!
It's one, or more, of the following 7: Spring Man, Min-Min, Ribbon Girl, Ninjara, Max Brass, Twintelle, Dr. Coyle. Can't see anybody else getting picked, mostly because none of them make any sense. Beyond that I really have no clue. If they want to throw us a curveball by making it none of the 7, Biff is at the top and the cops were at the bottom to begin with due to developmental issues, now that'd be a good way to throw away lots of goodwill with anybody on the left.
Opens with a preamble before the trailer. If it's Spring Man, the fact that he's an Assist Trophy will be referenced in the trailer (summoned by somebody, he doesn't go away after a while, then defeats his summoner before the tagline). If it isn't, then it could play out like Terry's but beyond that I have no idea.
Sakurai discusses the challenges of working at home, and maybe a few of its advantages. One of his quotes will become a meme.
He elaborates on how the ARMS character works. Also the content: 10 ~ 13 songs, Spirits consisting of the characters not yet Spirits who didn't get in (Either Hedlok is the legend, or one of Max Brass/Dr. Coyle). The board would also include the base-game Spirits. Stage is the one that matches up with the Fighter we got.
Sakurai has some sort of final, special message before rolling Mii's, but I have no idea what.
Mii time. Since it's Nintendo, there's gonna be a lot less Nintendo than you'd think. A Capcom Costume, possibly some new FGC costumes like Scorpion or Sol Badguy, and other misc costumes. Probably a special costume again (once that looks nothing like the Mii, and has a music track with it), though I doubt this one will be indie (not that there won't be indie costumes, I just think this one will be from an in-between or AAA publisher). It'll be somebody who one-ups the ARMS rep the way everybody since Banjo got one-upped. At least one major character in speculation dies tomorrow.
A final thank you message for watching, a release date, and a farewell come afterwards. Some upcoming Thursday or Friday: this one, the next one, or the one after that. After that, we go back in the dark with nothing to look forward to beyond the ARMS day. (Personally, I don't think we're seeing Smash for the rest of the year (not because development is behind, but because marketing is), but we might get a teaser from September - November.)
P.S. Frisk x 5.