So I have some Predictions for the Last 2 Fighters of Fighter Pass 2, but first Honorable Mentions
Honorable Mentions
Ryu Hayabusa: Right now I'm thinking he might be a Mii costume or something like that. However today is also the reveal of Pyra/Mythra's DLC tournament. If the DLC Tournament is not based of them being Swordfighters (and we also don't get one in the near future) than I will start to think maybe we will have another Sword Fighter in the Pass, and I think Ryu would have best chance of being that
Frisk (Undertale): The Missing Undertale Spirits, especially when Cuphead got one, is kind of suspicious. it could be a case of Toby not wanting one, but considering how beloved the characters are and How lax I think Toby would be, I do think it is weird we haven't gotten
Also, Because Toby Fox was inspired by Touhou, and there have been Touhou elements in Undertale in some capacity, it's possible that Frisk could have some type of Grazing mechanic as well (especially since there is alot of dodging in Undertale as well). I Mention this because of that new projectile glitch that involves something close to grazing. However I don't think Reimu will be in, since honestly I think it may be implied she might not be in, but I'm not counting her out
Sans is already a Mii Costume. Really the thing with Frisk potentially being in is it could be a case where it was decided to have Undertale fighter sometime after the Sans costume, like there may have already been talks for Full fighter, but because Sans was so exciting addition as Mii, it may be why we have 6 Characters instead of the Regular 5. It is just a hypothesis though, lots of speculating with that info. The Full fighter would have also needed to been negotiated in like 1-2 months, but considering Toby is just one man, and they may have already discussed potential Full fighter from Undertale when discussing the Sans mii, it could perhaps get done in that time
If we are Still lacking the 2010's Tournament, like weeks, or even month(s) after Pyra/Mythra just released, than I will actually put Frisk in my Main predictions, especially if we take the glitching into account.
Predictions
Shadow the Hedgehog: I think Shadow the Hedgehog will be in.
Sega got no costume in FP2. Another Sonic character has been a very frequent request for Smash for a Long time, there were even some before Sonic even got in. Shadow has frequently been very popular request as well. Sonic characters are very recognizable and popular, and Sega has also shown that they will license Sonic out very easily, with how he was in Ninjala, OK KO, Fall Guys, Lego Dimmensions, and more
Sega also will want to be Sonic focused in 2021, since it is Sonic's Anniversary. FP2 is going through 2020, and 2021
Sega also had a Fighter in FP1, just like Microsoft and Square, who got another character in FP2. FP2 seems to be really extra additions to the Roster, which I believe Sakurai has also stated.
If you want to get more in-depth explanation for Shadow Specifically, especially concerning specific obstacles like Assist Trophy, Him not being an Echo, and Eggman/Tails being options, you can read the Shadow essay that's in the Sig. Some of the info also applies to the Next character
Waluigi: I think Waluigi is very possible
Reggie did talk to Sakurai about Waluigi sometime after E3 2018, so we know he was already discussed for potential Fighter
We see with examples like the Bomberman Mii costume, that NPC Characters like Assists are having their roles reconsidered. I will say Waluigi (and Shadow) are bigger deals than Bomberman, so it's interesting what conversations happened with those 2
Waluigi is very popular character, and some could argue he's now the most Requested character to be in Smash.
Some have noted the absence of a Luigi's Mansion 3 Spirit, and some have theorized it could be saved for a character, and while there is King Boo, Waluigi is more speculated (Despite not even being in Luigi's Mansion 3) that the spirits could be saved for. This could make sense since
-Waluigi is a direct foil to Luigi
-If Waluigi was chosen, since there are many Mario spirits already, and Waluigi doesn't have much to tie to him specfically, they could use Luigi's Mansion 3 spirits
-Waluigi was revealed along with King Boo in Mario Kart tour on Halloween, so Nintendo have made that connection between Luigi's Mansion kind of
Waluigi has also been heavy in the rumor mill apparently. the people that have discussed this info aren't looked at most fondly, however I do think there was potential info that should be discussed. Stuff like the Paraleak might have some implications that go beyond the intial leak, which Paragon suggested the wrong conclusions, with Info that wasn't as Specific to imply that it meant FP1 would have Waluigi and Frisk in it
I also think it's been implied, whether from rumors, or from what's been happening inside the Actual Smash game, as well as Sakurai not going out and deconfirming the Idea of Assist Deconfirming, that it's likely that we likely to get an Assist Trophy promotion in this pass. Whether it be Shadow, Waluigi, both, or some other Assist like Shovel Knight or Isaac, I think it's likely we get one
yes