I definitely believe it does, and I say that as a person who does not like SSB very much but who has a strong like for VF5 on my PS3.
That isn't about SSB necessarily being a better game. It's about the overall philosophical movement of the industry away from "more complexity is always better" towards "complexity can be a good thing, but not always, and it doesn't necessarily make a game deeper."
In that vein, despite my personal affection for VF5, SSB is one of the leading lights in the industry. As is Team Fortress 2, and Wii Sports.
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