Here's the thing with this Capcom and "over-representing" of each company: That's not how they're actually chosen.
It's not as if Sakurai says, "Hm. I really need to pick a character from Capcom/SEGA/Konami/Namco/Square Enix". Sakurai has picked characters from other companies based on demand and gaming legacy.
Sonic was picked because he was arguably the most requested character for Brawl, especially after Snake got in.
He’s also ****ing Sonic the Hedgehog.
The only reason Snake was added anyway was because one of his friends asked nicely. Mega Man got in from requests, and the fact that he’s ****ing Mega Man. Ryu is Mr. Fighting Games, Ken is an easy echo and is arguably just as much of an icon as Ryu. Castlevania is a classic Konami title, and sits alongside Metroid as incredibly influential games. Bayonetta was likely picked through a combination of requests, convenient timing, and having assets to easily make her. Joker was probably a Sakurai pick, Dragon Quest is not only a massive legacy pick, but was highly requested. Banjo-Kazooie was a long time extended family member of the Nintendo family, which fans have requested for nearly two decades.
Pac-Man is, well, ****ing Pac-Man.
There's no indication it has anything to do with the companies they come from. it just so happens that the biggest icons in gaming come from the same companies, if you ask me. If this were the case, then wouldn't each 3rd party addition be balanced with another one simply to equate them? At base roster, only Konami and Capcom were equal, having 3 each. SEGA had 2,
In addition, if we're looking at "3rd party companies being equal", that's literally not possible at this point without an additional fighter pass. For Namco to have the same amount of characters, they'd need 2 more. So if we give them two, then Microsoft and Square Enix still need more characters to be equaled out.
Then, you have music tracks. Not all series have the same amount of music tracks. Castlevania has 34 music tracks, while Final Fantasy has 2, despite being the much larger series. That's certainly not equal.
How about Assist Trophies? Sonic the Hedgehog has 2. Street Fighter has 1. Mega Man has 1. Bayonetta has 1. Pac-Man has 1. Final Fantasy has 0. Metal Gear has 1. Castlevania has 1. Persona has 0. You get my point, so I won't keep going.
The remaining 2 picks will be based on the series they come from, not the company they come from. Thinking otherwise, as it was from Smash Wii U, seems only to reek of bias in regard to a character fans would rather have over one from a company already in Smash. It's an opinion, which is entirely fine and people are entirely justified to have. But it's not factual, and doesn't actually hold any bearing on how characters are picked.
No offense to anyone, but this has already been picked apart.