Lots of people figure that since Link (and now Zelda) are in TP form, Ganon's likely to do the same, and, seeing how they want clones out, the easiest way to do that is with his TP sword in hand.
I'm not so fond on Brawl's Ganon wielding a sword (there's a fair few sword people around), I prefer the idea of the sword being limited to one of his B moves, or to make things a little different, have him use the twin swords he had in Wind Waker...

I find it interesting that they would profile Zelda without even the briefest mention of Sheik. Could suggest that Sheik's out, or perhaps her own character? I would guess that, if Sheik and Zelda are still connected, the next update is going to be Sheik's profile.