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Here are our options, assuming that nothing before Gen 6 has any chances of being playable (looking at you, Pichu, Gardevoir, and Sceptile):
1. We don't get a rep for Gen 7. We get one for Gen 8 instead.
2. Decidueye is our Gen 7 rep, because it is the first fully-evolved Grass Starter. Much like Greninja, it is chosen *not* because of popularity, but because of executive meddling.
3. Silvally is our Gen 7 rep, being the first fully-evolved quadruped fighter with access to many different moves at its disposal, a design that emphasizes its jack-of-all-trades nature, and lore that doesn't make out to be as quite legendary as we thought, but still on the level of Lucario. Much less likely than Decidueye, but still possible. Worst case scenario, it's a Pokeball Pokemon not unlike Deoxys, Darkrai, or Genesect.
4. Alolan Raichu, or some other Alolan 'Mon that isn't Ridley-tier. Don't be surprised if Game Freak wants to shoehorn more Gen 1 stuff into a Smash game.
5. My wild card: The Pokemon Trainer, except he/she jumps into the fight themselves. I spoke about this in another thread once where they use a different assortment bag items and HM moves for attacks and mobility, and come in various outfits referencing the default wear of the male and the female in each game. It's literally Villager 2.0 in quirkiness with a dash of Wii-Fit Trainer in athleticism.