She would be a "First Party Indie" if she wasn't in other platforms like Steam or iOS, I'd liked me that she had remained with Nintendo.
I can't really blame them since she seems fairly ignored by Nintendo, despite the presence on their consoles.
And generally I kinda wonder how much cash they have on hand in the first place... I mean I wonder especially how they are doing since a Kickstarter is being used to fund Half-Genie hero.. I mean lets consider what the company also produces. They also work on Licensed titles, like Ducktales. Also "When circumstances permit, we also make weird and wonderful
original games like Shantae and the Mighty Series." So really? How much cash do they have? It can't be much if they can't even fund an original game on their own..
So really its not a surprise they would want Shantae in smash. It would cement her position in the Nintendo line-up, plus it would finally get her the Exposure she has deserved for all these years.. As for why they didn't come to them earlier?... Maybe they were just too afraid to. I mean there were already BIG contenders getting in at the time.. Sonic, Megaman, and Pacman are gaming giants that are hard to compete with. and they probably thought she wouldn't be considered... Now they probably see the ballot, and the fact "any" gaming character is eligible is their chance.
Besides, lets also not forget Rayman Legends ended up going from a Nintendo Exclusive to a multi-platform at the last minute.. So it's not like our record is exactly spotless either, if I may remind everyone.
Edit: Also... "When circumstances permit" ...Yeah. I would take this as "when we have the money for it". XD