TBQH, all the companies today have become kind of... "stagnant" and underusing their IPs as of late. And when I mean all of them, I mean, ALL of them.
Nintendo's already having many obscure IPs being begged about for Smash Ultimate just so they can be given another chance in limelight, some which already got shot down (Starfy, Mysterious Murasame Castle, Advance Wars probably.)
I mean, gladly Nintendo's mostly running on 5 or more currently profilic IPs to do with (Mario, Splatoon, Zelda, Pokemon, Fire Emblem, Animal Crossing, Xenoblade probably sooner or later) - however, others are given non-regular releases (DK, Metroid, Warioware, Pikmin, Star Fox, Yoshi... Kirby doesn't count due being developed regularly by Hal Labs still today fine and dandy)
And then we get to the very bottom of the barrel of fans waiting the series featured in Smash to get a new game just someday - mainly F-Zero-fans and KI-fans.
We then move on to Konami, who basically flipped completely on it's legacy the last half a decade, and hasn't really recovered well in community's eyes sans Smash including Snake and (thank God because pachinko-hell is dead) Castlevania.
Meanwhile Capcom has all but exhausted their other IPs to eons-long hiatuses when they aren't being their cash cows such as Street Fighter, Resident Evil or Monster Hunter (sans Megaman but that more was just due being revived through Smash).
SEGA's trying to kind of move away from this via doing apparently some new installments for some series consistently now and even reviving some, such as Valkyria Chronicles, Streets of Rage and even Sakura Wars.
If to sorta sum it for you though, the variety in IPs and franchises in all companies have bit of taken a big dip since last decade, and it took massive reworkings within them to turn this around (like Splatoon being led by Koizumi, and SEGA putting already competent developers in Lizardcube to good use again for giving a revival people have been asking for eons to Street of Rage-series. Time will be the best friend here to see if something might happen. (Also inner demand within the companies incase fan outcry doesnät reach.)
In the end, I'm probably just grateful that Tales Of at least is still sticking around - I'd hate to have seen it be ignored too incase it didn't sell too well enough, or got such a chance (especially with it having some drop in quality some last games until recently.)
I quite hope to see Klonoa back one day too, probably with Rival Schools in tow, but for now, I can at least hope for Sakura Kasugano as some ambassador throwback to the latter series. Give or take, for now.
And again, You realize the fact Pac-Man literally has nothing from the World trilogy is just as much of a problem as the lack of Wario Land representation in Smash 4, right? (Which at least Ultimate brough back Wario’s trademark move.)
Well, I could probably vouch that Up-Air seems canon with Pac-Man due possessing same flip kick in Pacman World 2, and you could say him eating a line of Pac-Dots got also lifted from Pac-Man World 2's Pac-Dot Chains in that game...
But that's getting too off-topic.