I think Smash needs to designate its own aesthetic rather than borrowing from the newest incarnations of its derivative series, i.e. no Skyward Sword influence. Every character chosen for SSB4's roster should look slightly different than they currently do in their own series, with a skewed visual style towards the general deformity pronounced in most Nintendo series. By that, I mean that there should be no realistic human characters, even if they appear as such in their derivative series. Everything should be slightly distorted to fit the proportions of the Smash mechanics, just as the aesthetic of Skyward Sword was crafted to support the Wii Motion plus mechanics (Eiji Aonuma said that upon switching from post-TP graphics to the colorful, washed impressionistic style that SS ended up with, so too did enemies change from being realistically proportioned to having larger heads [Bokoblins], rounder features [Octoroks], and directional weak spots [Deku Babas]). I think the same approach should be taken with Smash.
Characters should be redesigned to reflect their incarnations from across their series' histories. With that being said, the chosen Zelda characters should represent their incarnations from the original LoZ to SS (and beyond). Considering the timeline's collective structure, across 16 games there are 9 Links spanning the Legend of Zelda series:
- LoZ/AoL (Original)
- ALttP/OoX/LA (Classic)
- OoT/MM (Adult/Young)
- WW/PH (Toon)
- ST (Toon II)
- TMC/FS (Toon III)
- FSA (Toon IV)
- TP (Adult II)
- SS (Adult III)
Link should be designed to reflect the Classic/Adult (I, II, III) Links.
Young Link should reflect the Original/Young/Toon (I, II, III, IV) Links.
Zelda appears differently in every game for the most part, so she should take from her various incarnations.
Ganondorf should borrow from his OoT/WW/TP and
unused OoX incarnations.
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Impa should draw strictly from OoT/SS for obvious reasons... and on that note, I fully support her replacing Sheik. Round out Zelda's moveset, and evolve Sheik's into Impa's.
For dynamic Nintendo characters like the Legend of Zelda folk, I think Smash should reinvent their appearances to fit its aesthetic, allowing the characters to change with this series as well, just as they change from title to title within their own series. The same can be said for most other characters, save the Mario and Pokémon gangs who've retained consistent appearances for more than a decade now.
Conclusively, I believe Smash needs to skew its aesthetic to slight disproportions akin, but not to the extent of the Mario characters.