it's shown in gameplay that several of his attacks are normals, aerials and smashes while others are specials (i imagine the hard knuckle, having a meteor effect in the game, would be an aerial down A, and Flame Blast looks like it'd be his down smash)
also considering the villager and wii fit trainer have no set names it kind of makes sense; pokemon trainer made sense because not everyone names him Red, and not everyone /knows/ that his 'canon' name is Red (and even then, it isn't even really canon, that's just the name everyone adopts because it's the constant name in presets and it's what the special manga uses). tacking the 'Mr.' at the front of game & watch worked because he was that exact same generic stickman design they used throughout all of their game & watch series. it's the same deal with the villager and wii fit trainer for the above reasons i mentioned, they have no set names, but it'd just be weird to have someone named 'miss wii fit' or some shit like that
also, the pokemon thing is typically determined by popularity in japan, jsyk. Lucario was one of the more popular pokemon in gen 4, plus it got its own movie, so they took it and ran with it and came out with a very nice character in the end (and believe it or not, Jigglypuff's actually pretty popular). honestly smash is supposed to be a game where multiple characters from their well-known series can duke it out with each other, and even if they're "generic", they're still exactly just that, and the game is still doing exactly what its original purpose was. should they decide to throw in the Avatar from FE:A, it'd be a very welcome addition (granted, s/he's a 'generic' who can become any nearly class in the game with a default name should you be too lazy to name him/her yourself, although it'd be more prudent to add their child, Morgan/Robin, since outside of gender, s/he has no restrictions on what class they can come out to be)