Corrin’s transformations are just a visual. Corrin’s just another swordsman. He’s “unique.” Saying otherwise at this point would be, well...
Sounds like Sakurai praising any other character, like the above Lucas and Roy.
To be honest it sounds more like these transformations aren’t entirely honest. It’s too... Buzzwordy. Perhaps it’s just that the translator is using terminology that they’re familiar with, perhaps not.
Something that amounts to something in an overall sense, and something that hasn’t been done before. Together, at the same time.
Having basic characters is fine as long as they fill a role. Toon Link stands out quite nicely even though he’s technically a clone... Individually any single move isn’t very special. But he’s easily the most mobile zoner. He uses projectiles to often close the gap and lead into his close range moveset. It’s a very unique play style.
In the interview Sakurai sites that you have to be aware of your position around Corrin. But like... That’s everybody with a powerful ranged attack. It’s not even terribly different from Shulk. Looking past that and you have a character easily described as Ike on steroids, and it’s not that Ike is garbage either.
Transforming can be used in a unique way. However, Corrin does not do so. For example pulling a lance out of nowhere would achieve much of the same effect, or stabbing with the Monado, or dashing forwards with Electroshock and so on. A unique usage could be filling up a meter and temporarily transforming almost like a Final Smash, even if cut down to something like three or four moves. Or maybe dial it back further and instead it’s the same moveset but stronger. (Not that this would apply to Corrin, but it’s an example of using transforming in a unique way.)
In the same sense, I don’t believe wielding a weapon such as an axe or knife would be unique. Like yeah it’s “different” but if you took away the visual there’s no real difference from a sword or something like Zelda’s close range magic or Sheik’s... Er, magic. Like, you could do slightly different hitboxes and frame data I guess... If the character had something else of merit then sure they would be unique but the axe and knife don’t do anything in particular for them. It’s like my Rabbid example. Sure, nobody else can play volleyball with Ezio but does that actually matter? Does it actually amount to something or does just end up retreading old ground but with extra sprinkles?
You know what this argument reminds me of? When Combofiend said "every character is a function" as damage control when people got pissed MvC Infinite wasn't going to include X-Men / Fantastic Four characters because of Marvel's whole MCU parity shtick. That people who played Magneto in previous games could just adapt to other characters, like Captain Marvel or Nova, because they shared similar moves. Except there's two important things they missed.
First off, similar moves =/= similar characters. For example, reflectors. From a basic glance, nearly every reflector in the game is the same "function" in the end: You input the move, and if there's a projectile near you, it reflects it back. However, so many characters put their own spin on it:
: Flips opponents in the opposite direction, including any incoming momentum.
: A basic reflector with some offensive capabilities.
: Close-range getaway attack with multiple hits.
: Kicks his reflector out, making a short-distance projectile as well.
: Also acts as a close-range command grab, throwing opponents into the air.
: Reflectors protect from damage altogether, though have their own HP and can be broken.
: Creates a barrier projectile that helps zone out incoming opponents.
I could go on about how counters, projectiles, dragon punches, and so on differ so much from each other, but let's bring it back to Corrin. You could definitely compare him to other sword fighters when it comes to his normal blade. But the thing about Corrin is that his range is uncomparable to other swordfighters. He can pierce opponents and pin them in place for a follow-up attack, poke them from halfway across the stage, and has a chargeable stun projectile, something only one other character in the game uses. And all of it is themed around his main gimmick: His Dragon Fang allowing him to morph into a dragon with lance-like limbs, massive wings, and control over water, all while retaining the size and weight of a typical swordfighter.
As for my second point, people don't always pick the character they play based on hitboxes, frame data, or anything truly below the surface. They play the characters that look cool in and out of the battlefield. While this may not necessarily apply to games with completely new casts, like Rivals of Aether or Skullgirls, in games like this, with established casts of popular characters (Smash, Injustice, Marvel vs Capcom), a lot of people play the characters they like, or try out characters to see who's fun to play. It doesn't matter if there's a sword character who uses a double-handed sword with a lot of weight to its' attacks, an axe is still going to feel like a different weapon even if there's similar frame data. Visuals are a huge part of what makes a character a character.
Let's take away the visuals and look at Smash 4's cast. You've got a bunch of characters who either excel in close range, mid range, or long range. Moves travel paths like basic arcs, zig-zags, straight up, down, left or right, or are controllable. When you strip everything that makes a character that character, of course it'll look the same. What you're left with is that beta image of Dragon King, the game Smash was supposed to be. The whole point of Smash is that there's variety in the characters that you can play as. Sure, there are multiple characters who resort to winding up punches, but one's a lightweight boxer from the Bronx, one's a futuristic bounty hunter with flaming fists, and one's a massive gorilla wearing a tie. A one-two punch can be interpreted so many ways just between these three characters, and that's not even including other characters who use a combination of different moves.
TL;DR: Characters in Smash aren't necessarily different in hitboxes and frame data, but in unique aspects and functions of these moves, and visual flair that makes them a character and not a collection of collision data.