So despite us not getting something this week, I still find it believable that we will still get our last information drop this month. Some may not believe anymore, but I still have a good feeling about this month.
To give some context, prior to Smash 4 3DS releasing, the ESRB leak basically crushed the ability for Nintendo to properly reveal their content and surprise the fans. If I remember correctly, Shulk was revealed roughly a month before the game released, so that would have been roughly in September (I remember because I first saw that Shulk was revealed while using a computer in a college class at the beginning of the semester). I also remember that the Shulk icon was actually NOT Little Mac, but totally Shulk himself. Surprise!
Considering the ESRB leak occurred roughly a month and a half-two months prior to release of Smash 3DS, it’s comparable to where we are now.
However, Smash Ultimate still has Spirits, potentially trophies, any final Smash changes, DLC, and I assume other announcements to make before release, not just the characters that are left. Characters are important and probably the most hype additions, but imagine the wind taken out of the proverbial sails of the hype train if a leaked trailer for any character or mode randomly shows up.
They could absolutely wait until November. But to avoid leaks, I think they’d try for earlier reveals.