The reveal was super hype, and it's really looking like it's going to be its own game apart from 4. Even the graphical improvements on top of the thousands of little changes they've made were pretty noticeable, making the "ultimate" moniker very appropriate.
I never imagined that every single character in the history of Smash would be making a comeback. I expected Ice Climbers to be back, but Pichu and Young Link seemed like they were gone for good. And Nintendo somehow freed Snake from the terror of Konami? It's actually incredible that Mario, Mega Man, Sonic, Pacman, Snake, Ryu, and Cloud are all in the same game. That's pretty much every huge gaming icon ever.
The showed off zero modes besides the basic VS mode, so there's definitely more coming, I don't see why anyone would assume right now that single player modes are nonexistent when there's no information about it.