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The market that is going to spend the most for a character is the worldwide market.A casual market isn't going to spend $400 for a single character. This is the main metric I'm going by in my predictions as it's Nintendo's goal to expand the demographics for not only Smash, but the Switch as well. This is particularly why I think that each franchise represented in the DLC will be at or around Persona's level worldwide, which includes DQ. There's a reason I brought up DQ fans in my post. Slime is neat, but it's not something they want in a Fighting game, Same reason Slime isn't playable in DQ Heroes. At the end of the day, they want heroes and not monsters, despite whatever "iconic" status the general public puts on Slime.
You have no real idea what they want in a fighting game, though. That's way too presumptuous. What we do know is they want to appeal to a casual level a bit, which Joker still does.
How on earth do you know they wouldn't want Slime? They wanted Pikachu, after all, which is literally what Slime is to DQ. A major mascot that heavily represents a lot of the important aspects of the series. And pfft. The general public isn't "putting" some iconic status on Slime. There's absolutely no questioning that its more known than Edrick(not necessarily as popular, but that's not what being an icon means at all). Slime is the freaking logo of the series in many cases, and has had his own games, is literally presented as a major partner(just like Pikachu) in the first three Dragon Quest Monsters games(I have not played Joker). You're vastly downplaying its mascot status, and completely ignoring why Cloud is in a completely different situation. Cloud was never competing with the animal mascots in the first place, but being the fact he was worldwide, he had a huge boon in his favor. As long as Erdrick isn't known worldwide, he's at a disadvantage against those who have worldwide appeal(which is actually pretty important for 3rd party DLC, as I've explained multiple times before. Licensing a virtual unknown is an inherent risk. There's less risk with 1st parties due to way less money spent. That means even if it doesn't work out as well as they hoped, it's not a giant drop in their bucket. When a 3rd party fails, they don't get the massive amount of money back they spent to license). I don't know if saw this important point against Erdrick as a choice earlier, but it's something people should keep in mind. Nintendo is not a business to take extreme risks, nor is Square. In fact, this alone could be why Geno was never playable via DLC, because his obscurity isn't a big enough sales guarantee for them to risk it. That's obviously not an issue for more iconic characters, including Slime.
...DQ Heroes is not exactly a good point. It's a game where only Heroes are playable, unless I misunderstood the blatantly obvious name. That sounds like more of an actual case that they made a special crossover for a niche demographic(which doesn't apply whatsoever to Smash).