Lloyd Irving
+Isn't seen as a Spirit or AT in game.
+Had a DLC mii costume released in the same wave as Chrom & K. Rool, so he must have done well in the ballot.
+The overall most requested Namco character after Pac-Man.
+Tales of Vesperia HD is coming to Switch and all other current platforms in January, as well as an unknown Tales Switch game is suppose to be coming as well.. So this would help promotion if DLC is aiming for that.
+Has history with Nintendo as he debuted on the Nintendo Gamecube and had a Gaiden sequel on the Wii as well as his appearance as the guest of Soul Calibur Legends also on Wii. And Nintendo helped advertise Tales of Symphonia in the west.
+ Tales of Symphonia's director and Producer worked on both 4 and Ultimate. The latter commenting that he would love a Tales character and that the director would agree.
https://nintendoeverything.com/yoshizumi-on-including-tales-characters-in-next-smash-bros-more/
-Faces competition with the possibly 2nd Namco rep, Heihachi.
-Possibly considered not profitable enough by Nintendo & Sakurai
-Namco gets left in the dust with only 1 character for whatever reason.
Banjo & Kazooie
+His overall iconicness in the gaming world.
+Phil Spencer's talks with Nintendo during Smash's development and him being ok with Banjo in Smash.
+Pretty much highly requested by nearly everyone on the internet so it wouldn't be surprising if he was very high in the ballot.
+The great history the duo & Rare in general had with Nintendo before the Microsoft ownership.
+Vergeben's leak about minecraft content more or less means Microsoft will have content in Smash.
-Steve could be chosen instead of him.
-Microsoft being stingy.