Captain Falcon was so awesome, that in order to save the Wii, Wii U & 3DS versions from exploding, Sakruai had to limit that awesomeness with his Blue Falcon. Had they tried a new smash, they had to replace a new console due to the fact that's it's too awesome for the systems to handle.

So, yeah, for the safety of everyone's money, they had to limit Captain Falcon's final smash.

The only reason it's that close is because it wanted to be closer to Captain Falcon.