Steve 4 Smash? More like Steve for Xbox Flaming Ring of Death! Oh wait, Microsoft doesn't have enough IP's to make themselves a decent mascot fighter.
You know, I actually once went over what IP's they own and what IP's that are important to them that they dont and would have to bring cash on.... and they came out on top of Sony
Granted, you REALLY need to be a fan of Xbox for a long time, but I calculated 17 fighters from original IP's, 3 Third party characters and 4 unlockables from some of the already covered IP's, rounding it up to a nice 25 man roster.
MS, unlike Sony, owns most of the important IP's that had games released on theyr system, they actualy own Blue Dragon and Losty Odyssey! This gen both companies are turning around though, with Sony owning the names and MS buying timed offers, but the IP's that put both brands on the map and became iconic with the names are in MS favor (Master Chief vs Solid Snake, Jack of Blades vs Cloud, Banjo vs Crash ect.)