Captain Falcon has not had anything, ANYTHING to call to his own. Smash, is not; nor should not, be the only reason to why something would be plausible.
The same goes for any possible thing coming; but he is a part of a franchise that has not seen ANY new title since F-Zero GX on the GameCube (and F-Zero Climax on the GBA in Japan).
Meanwhile, I'd argue that the Puff Ball, Kirby; would be better suited for quite a few reasons. He's easy to identify, the stories he's in can be very simple and family oriented, and it would be a chance to honor someone who's had a larger influence with Nintendo that has paved the way to a lot of the company's road.