I came to an epiphany last night. Why do games like Multiversus, NASB and PlayStation All-Stars end up the way they did? Easy, the studios that own these properties were way too controlling and they didn't give their devs enough freedom or dev time. Even Smash back in the 64 and Melee days had to deal with the same thing.
- Almost not being able to use Nintendo characters
- Almost being a Japan exclusive
- Melee only having a 13 month dev cycle
- No delays were allowed for either
Smash was only allowed to escape it because of its success. They gave more freedom to Sakurai and his team with Brawl, Sm4sh and Ultimate.
Even NASB2 had a tiny bit more freedom than the first game did.
But why was Smash allowed to escape the corporate meddling and not the others? Smash was the first of it's kind. Well technically not with games like Joust, The Outfoxies and Jump n' Bump but most people generally view Smash as the first. It unintentionally made things harder for future games. The general audience doesn't view platform fighters as a genre just yet. It's all clones or ripoffs to them.
But those 3 games and others probably could've succeeded and changed things but the problem was not (entirely) the devs but rather the studios than owned these IPs that were way too controlling.
I'd say that if you want a proper crossover platform fighter with a certain company it would probably be better if you made it a fangame and hoped you don't get DMCA'd. Because you would be able to have the roster and freedom you'd want.
If Disney, Xbox or Dreamworks made their own platform fighters they would probably go through the same thing. A company needs to be bold enough to break the cycle for change to come.