Went for some Exercise and got my thoughts straight here they are:
Ultimate is the better game but Melee shouldn't have been left out, Sure Melee is old and Ultimate is new but Melee still has a ton of fans and people who still play it to this day. Both should've been in but it's understandable that they wanted to focus on one Smash as EVO has limited slots and Ultimate needed the push more than Melee did. That said just cause Melee didn't make it into EVO this year does not mean it's dead far from it, it's still going strong and will continue to go strong until further notice. PPMD might come back this year which is a massive move for Melee's scene and if such does happen the game will prove to still be alive.
Both should've been in but Ultimate needed it more, Non-the-less this isn't going to kill Melee.
Melee's main issue is CRT setups. According to the organizers for the recent Frostbite tournament, they had to find CRT's to buy/rent and rent a bigger truck to transport them, almost doubling their operating costs. On top of that, it requires consoles and copies of the game that have been out of production for over a decade.
Melee isn't dead, and there will still be plenty of tournaments for years to come, but until the Melee community works out a solution to their hardware issues, their time is numbered.
For the record, I like Melee, but I just don't idolize it the way a lot of people do.