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PAOerfulone said:

If Smash 5 was in development, we'd know about it by now. They usually announce something is huge as a new Smash Bros. game WELL ahead of time to build up as much hype and anticipation as possible (remember the Smash Dojo?)

Brawl was announced in 2005, revealed at E3 2006, released in 2008. 
Smash 4 was announced at E3 2011, revealed at E3 2013, released in 2014.

If they announced Smash 5 now, I wouldn't expect it until 2020/2021. 

Well think about this strategically though, 2017 already has enough hype as it is.  However if they waited for the hype to die down before announcing Smash 5 for holiday 2018, that would keep that hype train going.

 

Good marketing strategy means breaking trends from time to time.



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