This is extremely likely and I want to die. Fire Emblem is going to have like 10 characters and there hasn't been a new Zelda character in Smash since I was like 2 years old. That's pathetic.
I'm totally with you on the 'Zelda needs new fighters' bit. The fact that it's only got 6 (but really only 3, because 3 of those six are just alternate forms of the same character) is more than just a little irritating. Like, I had high hopes we'd see a BotW Champion or maybe Skull Kid this time around. Instead, we get... two assist trophies from Majora's Mask. Yaaaaaay...
The FE over-representation bit though... I don't really see it. We don't have too many FE characters; we have too many Marths.
Cut Lucina and Chrom. If absolutely necessary, save one or the other as an alt for Marth, but we don't need them both as stand-alone characters. That brings us down to 5: Marth, Ike, Robin (who are excellent examples of the three main parts of FE history), Corrin, and Roy. Like, I'd rather have Micaiah or Hector over Roy or Corrin, but whatever, that's fine. Now if Edelgard uses an Axe and not a sword, then FE will have a totally acceptable number of combatants who aren't all super samey and people will finally shut up about it.
...granted, this will never happen, but a man can dream.
What good is Power without the Wisdom to wield it? What good is Wisdom without the Courage to act? What good is Courage without the Power to change the world?