From what I've seen following a number of competitive fighting game communities, most players only seem to care if there are at least 10 or so competitively viable characters in a game. Brawl did okay at doing this (MK, Snake, Diddy, Wario, Falco, Marth, Olimar, Ice Climbers, Pikachu, and arguably Lucario/ZSS) and most people's beefs seem to stem from how Metaknight was far away the best character in the game, nearly shutting down a number of competitively viable characters I listed above. When it comes to Smash, however, most people are just thrilled to play as their favorite characters regardless of how much they suck. Hell, if Geno was in Smash I'd be happy even if he was lighter than Jigglypuff and holding the B button for too long caused him to self destruct.
I feel a lot of people are like this too with their favorite characters and why, like most fighting games, Smash will probably always be a series where at least 3/4ths of the cast will never win a major tournament.