My take on Dante is that while he's cool, I play Smash for Nintendo-heavy characters. Cloud is a special exception because FF started on Nintendo and Cloud transcends platform, really. To me, there are so many other reps Capcom could add over Dante that'd satisfy more criteria than Dante by being more Nintendo-focused, iconic to Nintendo fans, or more interesting to see in a fighting game. Like, I love Dante. The first action figure I ever imported was the Revoltech Dante. But it's not THAT exciting to me to see it again. Maybe for Simon vs Dante, that'd be neat.
What about Phoenix Wright? What about Viewtiful Joe? What about Ameratasu? If we branch out further to other third parties, what about Travis Touchdown? Professor Layton? Black Mage? Neku? Dr. Eggman? Edea? Bub & Bob?
Heck, with first parties even, we have Isaac, Elma, Celica, Sophie, and plenty of others. This is just scratching the surface.
I get that Dante is cool. I get that DMC is cool. I get that he has a ton of weapons. But I don't play Smash for that. I play Smash for Nintendo all-star matches and creative characters duking it out, and even as a Dante fan (he was my main dude when I played the PS2 Viewtiful Joe even) I just don't see what he brings to the table over a whole laundry list of characters other than "cool character with cool weapons".
I wouldn't protest his inclusion and I'd be interested but I'm just old school enough that I want some form of Nintendo ties, I guess.