Hey fellow Palmer!Here, I'll write a little thing. A little thing about absence:
With that out of the way, I'll talk about who I think may be likely, trying to base it on sheer "evidence" alone.Most of what we're basing current newcomer speculation on is absense. Shadow is absent, therefore, he may be likely. Isabelle is absent, therefore, she seems likely. Skull Kid is absent, therefore he seems likely. This can be said about many, many characters.
However, present absense isn't always indicative of future inclusion, and that's a very worrying thing. Especially when it's the only thing you're able to base hope on. The complete lack of something can simply remain like that. Isaac was absent from Smash 4, and people thought this was telling of his inclusion, but he remained absent. The same can be said for Waddle Dee, or many, many fighters.
I doubt we'll see all the characters that are being speculated on. Absence isn't concrete. Even things that seem incredibly glaring. Sakurai may have wanted Knuckles over Shadow for the simple reason that Knuckles has more of a presence in Sonic. They may have decided the moon itself was better representation than Skull Kid. Isaac may not be viewed as relevant anymore.
Speculation can be difficult, especially when based on something so unsubstantial as a lacking, or an expectation, or a demand. And there's so many characters that seem likely, and the truth is not all of them may make it. Ashley was missing, and then she wasn't, and the same could happen to any of the characters we're speculating about.
But then again, there is a bit of hope to hold on to. Dark Samus and Chrom both because top contenders because things were missing, and they became characters. So I think it may be something to look into, but not too far.
Unique Fighters:
Skull Kid
Is this one obvious? I won't really be adressing the villains theme right now, because it's likely a nonissue, but I can't deny that replacing Skull Kid with the Moon is a little suspicious. However, he seems a little uncertain right now, and I'm not sure where he'll end up at this point. I could see him as playable, or maybe a boss, or just a cameo or other form of representation that would require him not to be an AT. I'd like to see him playable, and I think he'd be a good fit, which is why I'm including him here.
Bandana Dee
Bandana Waddle Dee is a character that missed out on Smash 4. He was popular, sure, but not popular enough to even get a trophy. But his popularity has only increased, and so has his chances for this Smash. During the 8.8 Direct, we see a lot of Assist Trophies. The two that I'm going to talk about being Klaptrap and Kawasaki. Now, these both seem like they correspond with popular series that have had long-requested fighter additions. But my point being, K. Rool got in. I feel like these were almost insurance, things stopping K. Rool, and Bandana Waddle Dee, from being Assist Trophies. They aren't necessarily replacements, but almost pre-replacements. ATs that go along with the fighters.
And there's also the point of Dedede's final smash, being the Masked Dedede cage fight. Now, the only one in the audience for this fight in its souce material, Kirby Super Star Ultra, was Bandana Waddle Dee. And he's unmistakably not there in Smash. This wouldn't be too big of an issue (I get it, it's a dark stage fight, there wasn't timing for Dee to be included) BUT, This game in particular, Sakurai has been diligent about the inclusion in cameos in Final Smashes. Ness, Lucas, Mega Man, Shulk, Fox, Falco, presumedly Wolf, and even the Ice Climbers got cameos in their Final Smashes. So Dee's absense is rather glaring.
Isaac
So that little twitter image was cute, no? The one with the heroes fighting Rathalos. Apparently, that's a Golden Sun reference, which I don't understand why. I've never played golden sun, so i'll have to take everyone's word for it. But yeah, that's a big hint to me right there. Also, Isaac had a MASSIVE following on fanpolls for the ballot. He was everywhere, so it's undeniable that he's seen as someone who is heavily requested. These aren't necessarily new reasons, and I'm sure there's more, but I could see Isaac being in, definitely.
Echo Fighters:
Isabelle
This one is a bit obvious, no? Even without Vergeben's intervention, I would've guessed Isabelle anyways. Replacing Animal Crossing's new golden girl with Kapp'n seems a little suspicious to me, and I don't see why they wouldn't have shown her off by now. My only thing at this point is whether she'll be an Echo or not. I could really see it going either way, and Animal Crossing could certainly use two unique fighters, but everyone seems to be saying echo, so that's where I put her for now.
Shadow
Time for edge! Shadow is one I'm less confident about, but everyone seems to view him as a lock. Sure, he could be a decent echo, but I feel like he might be one who was just replaced. Knuckles is a better choice for an assist trophy, considering he's a bit more relevant to the Sonic series than Shadow is, but I'd like to see Shadow nevertheless, if not for the absurd edginess he exudes.
Notable Exemptions:
A Pokemon
The only reason people think we're getting a Pokemon is because we've always gotten one, but I don't know if this'll be the case. I don't think I can quantify past preformance as indicative of future results in this case. We might get one, but I don't know which or when.
Geno
Geno. This character is an enigma to me. I know barely anything about him. I don't know why he's not in any Mario games besides the RPG, I don't know why he's not Mario property (or if he'll be counted as a Mario character in Smash), and I don't know if Square Enix cares about him. At all. In fact, I feel like the only time anyone's talked about this character in the last decade is due to Sakurai. So will Geno be in the game? Nothing is leading me to believe so. Will Geno not be in the game? I have no idea. I don't even know what he'd do. I don't hate his design, certainly.
There are a few other ones I failed to mention that are names commonly thrown around. Some leaker's character of the week. Some third parties here and there. Third parties I find incredibly hard to predict because there's no baseline for how their series would be represented in Smash, because it isn't. I can't say a lot about it. I didn't talk about Dixie Kong because I really feel like she could go either way. Impa is like that too, despite me really wanting her. I probably don't have a lot of opinion on a character I didn't talk about. Unless it's Rex and Pyra. Don't even get me started.
You mentioned Rex & Pyra, which sounds like a crazy can of worms for you, but how about Elma? Feel she might be really feeling it in Ultimate?