I feel like Verge, Hitagi, and Xeno are as reputable as ever (Hitagi and Xeno weren't exactly reputable from the start though, and I will admit Verge took a hit with his Minecraft boss claim, but even then he's been correct about most things) and this is the age old case of people discrediting leakers solely because they say that a character is or isn't in.
Out of five known sources, 4 think he's a red herring as per
this post. This alongside Vergeben being told not to take Geno too seriously casts doubt on his name being on the list. Polar is taking a neutral stance but only has his one source who seriously claimed Geno. That occurred in November as confirmed by
this post, and if I recall correctly Polar heard about it on November 2nd. Since then, there's been nothing as stated
here. I'm confident that someone also said that other developments for other SE reps have been picked up on, but I couldn't find the post. Unfortunately, without these sources to speak with we have no way of finding out
WHY they believe that Geno is a red herring, but I'll believe the majority in this case; most of the time it isn't wrong.
The rumor about Geno and Sephiroth being the ones to make it to discussion is just that, a rumor. Since it says that Geno is the one being seriously considered, of course it would be latched on to by the Geno thread. It's only natural for us to want our characters in; it's exactly why I latched on to Spawn Wave's claims of Sora.
That being said, outside of that one rumor than even Polar acknowledges could be fake, Geno isn't exactly seen as all that likely.