They did spend far too much time on smash, basically 90% of the E3 smash footage could have been cut. Don't need to slowly go through every character and talk about how there moves have changed. There isn't really a right amount of time to talk about a game pre-release though.
I always find it funny, they highlighted all the things that changed from previous itinerations there and yet many people were (and some still are) calling Ultimate just a Wii U port. So yeah, it seems Nintendo could have cut it out as apparently during E3 people are only receptive to hype.
The Nintendo eShop rating Thread: http://gamrconnect.vgchartz.com/thread.php?id=237454