Smash takes from a lot of different games that attract different crowds. Smash is a celebration of all things Nintendo and video games. For this reason, the competitive scene and competitive elements must exist. Rejecting the chaotic part of Smash is in no way wasteful. You can't "waste" what you didn't want in the first place. Competitive play will never get boring, because that's what competitive players want to play.
Let's make myself an example. When I play a video game, I want to analyze the game and come up with the best strategy to win, and items are 100% RNG wildcards. My way of enjoying Smash reflects the fact that Zelda, Pokemon, Fire Emblem and Xenoblade are my all time favorite franchises. I love competitive, Smogon-like Pokemon gameplay, finding the best way to defeat bosses and solve puzzles in Zelda, training my units and finding out the coolest ways to clear maps in FE and building an OP team to stomp the superbosses in Xenoblade.
Games like Mario Party and Mario Kart just don't appeal to me. They are too irrational, full of spur of the moment chaos that just makes me shake my head and switch games.
To me, craziness and chaos is not part of enjoying video games, it's something that kills my enjoyment. I want to feel in control, I want to plan, I want things to follow a logical pattern that I can unravel. How can I enjoy Assist Trophies and Pokeballs when things like Palkia and Skull Kid show up and take all that away? When a box randomly turns out to be a bomb for no reason, or turns out to be full of many useless items? It doesn't feel like the risk/reward of attacking an enemy unit with a 70% hit rate in FE or using Fire Blast in Pokemon. The "reward" in a Pokeball may turn out to be a Goldeen instead of being punished by Palkia, or a super weak Pokemon that doesn't help at all.
Last time I played Mario Party with my friends we all ended slightly frustrated and just stopped after a short while. We opted instead to play competitive friendlies in Smash and enjoyed the rest of the day. Last time I played Classic mode I quit because I got tired of dumb items and stage hazards getting in the way of the game. If I have to play with items, I'd rather not play. It's not fun, because that's not the type of game that I like to play.
Smash needs to maintain competitive elements to be a true celebration of Nintendo/video games.
I played Brawl for over a thousand hours, I went to many locals for years, and every time I tripped, I felt like the game was punishing me for playing how I want. It's like the game wanted to reject me and my style of playing. I've never looked back at Brawl, not once, after Smash 4 came out, and I don't plan on ever playing it again. Melee? 64? I can play and enjoy, but Brawl? **** Brawl, with a big, bold capital F.
It's borderline insulting when a game that's supposed to be a celebration of video games spits on the reasons you like video games in the first place.