Here's some suggestions to make this game tourney/fun worthy
Gameplay: NO TRIPPING! Add in a "light" combo system. Make true fighting game techniques for this game. Make smash balls viable for tournament play. Listen to the tournament crowd, too! BETTER ONLINE PLAY.
Characters: Geno (I mean, come on!), Ridley,some 3rd parties, NO CLONES. I'd personally give Luigi his thunder abilities. More Villians! More Women! Give Ganon his sword and revolve him around his own abilities! That's what I'd do.