I know embarrassingly little about the Super Smash Bros franchise, but according to 4 Color Rebellion, Nintendo originally wanted to make a game that looks like this. It is hilarious... almost like a really good fan-made movie making fun of a ton of Nintendo's characters. It beats most Mario-ridiculing movies hands down.
Now they hired back the original director, and the next Super Smash Bros game will bear a closer resemblance to the earlier titles. Which, for all I know, looked even more ridiculous.