https://boards.fireden.net/v/thread/423305838/#423305838
We are contractually obligated to make sure certain third party characters are not perceived as weaker than 50% of the cast by the competitive community, so expect Sonic, Bayonetta, Cloud Strife and Ryu to be around top to high tier, but outside of that we're going off of a similar philosophy as what we used in Smash for Wii-U and 3DS, but with a slight twist, we're gearing the game's balance for competitive enjoyment. Characters that have a high fun factor like Sheik or Fox will be skewed to be strong in the meta while characters with a low fun factor like Dedede and Jigglypuff will continue to squander below the others, they'll be usable but will suffer at high level. Fun factor is measured by both online comments looking at previous games and the dev team's personal opinions, our opinions weighted above yours, here's a look at what we've got so far.
10-7 Fun Factor: Marth/Lucina, Sheik, Diddy, Falcon, Fox, Falco, Charizard, Ryu, Pit/DarkPit, Ganondorf, Luigi, Mario, Meta Knight, Roy, Ike, Lucas
6-4 FF: Rosalina, Sonic, Ridley, Daisy/Peach, Yoshi, Mewtwo, Pikachu, R.O.B., Wii Fit, Pac-Man, Bayonetta
3-2 FF: Kirby, Bowser, Donkey Kong, Wario, Pichu, Ness, Mii Brawler, Mii Swordfighter, Olimar, Link, Toon Link, Wolf, Bandana Dee
1 FF: Mii Gunner, Ice Climbers, Dedede, Jigglypuff
Characters with low fun factor will not be prioritized in balancing and ones with higher will be made stronger as to ensure a happier meta for the players, with exception to the already mentioned third parties.