This right here is the thing I've been going off of the most. While Wayforward isn't Yacht Club and won't hand Shantae over to every single IP who asks (thank god) at the end of the day, Shantae getting cameos is free publicity for Wayforward. There is no reason for Shantae NOT to show up in games like Blade Strangers (where she'd fit perfectly) RoA or Indie Pogo.
She still makes cameos in other games like Indivisible or Blaster Master but those are notably
not fighting/faux Smash games. Shantae's role in Indivisible was also confirmed in about 2014 I want to say.
Of course, it could be possible WF is just being stingy with the Shantae IP, but when you combine it with the Jammies mode dialog, Wayforward going radio silent when it comes to Smash despite the fact that they MADE the #ShantaeforSmash hashtag, then Shovel Knight getting in as an AT showing us indies isn't a pipe dream anymore it just
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it
really makes you think, you know?
I think Shantae is in the game in SOME capacity but whether or not she's an AT is yet to be seen, but like if she were an AT wouldn't it make sense to show her next to Shovel Knight? Just tear off the bandaids all at once? I don't know, am I getting too tinfoil hat here? There's too many stacked up instances that would mean nothing on their own, all happening at once.