Smash Bros is supposed to be a celebration of the gaming industry, not just Nintendo. Minecraft Steve/Alex and Banjo/Kazooie are Microsoft properties. Joker is owned by SEGA, and Persona 5 wasn’t even on Switch until years after Joker was announced for Smash. Sephiroth and Cloud are Square Enix properties. Sora is a Disney property. There are way too many non-Nintendo characters in Smash for it to be “free advertising” for Nintendo.