No, the 'retro' character worth it is this guy:
Excitebike is the ninth best selling NES game of all time, more popular than a lot of SSB franchises' initial releases. And while its newer releases have been considerably less than stellar, it is still technically
sort of alive (unlike a lot of its contemporaries like Ice Hockey and Baseball), and Nintendo does still like to reference it (got an entire track dedicated to it in Mario Kart 8's DLC). So it's probably one of the most significant old Nintendo franchise that isn't represented in Smash 4.
And this is just me, but a tiny dude driving a tiny motorcycle sounds like a more interesting character than another guy with a sword or Villager's Up-B made playable.