I find that incredibly lame as I supported him back in the Brawl days on the premise that a Four Sword/WW inspired Link would replace boring-*** Clone Link.
However, things are different now, Sakurai no longer needs to buff the roster, so that puts him on the lower end of the spectrum imo.
I never said he was gonna "cut" TL, I said TL is a low priority entry this time around, and thus less likely to get back in. You seemed so sure on the idea that HE WOULD RETURN, and I disagree. Ofc, there won't be cuts, Sakurai said he wouldn't cut anyone.
However, that doesn't guarantee old characters will return, this includes logistics, and technical issues. With a 50 character roster, would you put the extra time and effort in making an old character come back when you have a pending release date and your superiors breathing down your neck? I think not.
As for TL getting a new moveset, I'd hope so, however, I'm not so optimistic.
He's an unorginal fighter and still has to go through a balancing process, which is 90% if the work as stated by Sakurai himself in an interview. This is why all cloney fighters are unlikely to return (e.g. Toon Link, Falco, and Lucas), the only exception being Luigi, as he's THAT important.