I was exaggerating a bit for the sake of humor (I actually really adore the Ratchet and Clank series) but that still doesn't negate the fact that Sony's exclusive IP doesn't have anywhere near the depth needed for a title of this nature to really shine.
Two characters who can only really function as one. With the added burden of the more visibly notable one of them being a personality-less brick who somehow became even MORE bland when he started talking.
Again, two characters who can only really function as one. Though both of them are much stronger personalities than Jak and Daxter so they fair quite a bit better. In fact, they're so much stronger and better at the two-characters-in-one thing, they'd conceivably make Jak and Daxter utterly redundant and unnecessary.
Bland, smug dude in a t-shirt and jeans. Nothing to see here.
I'm not a big fan of the Sly Cooper games but I'll give him credit for being a memorable character with enough distinctive flair to support a move set so he'd be okay for a thing like this.
Another bland, smug dude in a t-shirt and jeans. Though he benefits from what could be a flashy move set.
Who?
Are generic FPS mooks really going to qualify for "iconic character" status here?
You mean that one game almost nobody liked?
Again, I'm forced to ask. Who?
I could see him working as some sort of parody of Captain Falcon at least.
Ico has the problem that there's no real way to get a full set of moves or abilities out of him while remaining faithful to what makes him distinctive and memorable as a character in the game he's originally from. They might find SOMETHING to do with him but it'd be hard (more than likely, you'd just get a stage based on the castle).
Also, the fighting was the worst part of Ico, so bringing that to the forefront just seems a giant exercise in Problem(tm).
So... lets see. Adding in Kratos and Sackboy that gives us:
5 Yes (Kratos, Sackboy, Ratchet/Clank, Sly, Sweet Tooth), 3 Maybe (Jak/Daxter, Cole, Ico), and 5 No (Everyone else).
That's... a pretty sickly line-up. Especially one that's promising to be "Like Smash Bros".