LogFAQs > #897449898

Smash 4 basically proved that they don't cut characters if they don't have to. The Brawl cuts were:

Snake - 3rd party issues
Lucas - Mother is a dead series and he was a pseudo-clone
Wolf - Star Fox is a dead series and he was a pseudo-clone
Ice Climbers - the 3DS couldn't handle them (they were apparently playable the Wii U mid-development)

I'm probably forgetting about some others, but yeah. I don't think they'll start cutting FE characters anytime soon as long as the series continues to grow.

Lyn is an easy target for DLC. People will pay out the nose for her. That's another reason I think Lucina stays - she's almost as popular a waifu as Lyn is.
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Black Turtle did a pretty good job.