My criteria:
Hype as **** - In order for a character to be hype as ****, the character must be very low-tier or abysmal, with the exception of Jigglypuff. It doesn't matter if they win or lose. Just seeing these characters in action is a real treat, because you never usually get to see them. Jigglypuff is the only exception, because everyone hates her and thinks she's boring. Even though she's not. This, conversely, makes her the underdog. You want the Puff player to win, because you like watching people whine and cry about it, which boosts an already fun-to-watch character through the roof in terms of how hype they are. Hungrybox the GOAT. 666XX forever.
Very hype - Characters you might see very frequently, but are still very fun to watch in the hands of a skilled player. Typically, these characters are best watched when used by dedicated character loyalists such as S2J, Westballz, or Hugs--or when they're pulled out unexpectedly, like Mango's Marth, Mew2King's Marth, or Plup's Samus. Results usually don't matter. Winning helps, but they're solidly hype either way.
Hype - The hypeness of these characters are very result-dependent. It's only hype when they win--otherwise, it just feels kinda sad.
Eh - The hypeness of these characters is dependent upon the player himself. Only a select few players know how to make these characters fun, and sometimes, they're not even very good at that. Plus, they tend to lose. Shoutouts to Axe, though.
Boring - I honestly just can't stand watching any of these characters. Peach is only hype if she pulls a stitch/bomb/beam sword. Mr. G&W has one good player who has no results at all, and he never shows up anywhere. As for Ness, even Hungrybox can't make him entertaining to watch. And then there's Kirby. It just kind of frustrates me to watch this character. He's just... so bad. It genuinely makes me angry how ****ty he is. That ain't fun.
Boring as **** - Just Fox. **** this character. **** his shines. **** his drill kicks. **** his up-smash. **** his lasers. **** his speed. **** his power. **** his dominance. **** his over-centralization of the metagame. **** his boring-ass playstyle. **** this character. I have no respect for anyone who mains him, except for Mango. 20XX must not happen.