When I brought up Smash, I wasn't really referring to tournaments. Even outside of tournaments, GC controllers are still a big deal for those who are into Smash, and any detectable lag will be a deal breaker for most.
I was more referring to Tech's comments

But you're right, if there is lag, this thing is a dud. However, since this is geared towards Smash players, I can't imagine 8bitdo would put out a product with noticeable lag for common players. It also connects to PCs, so I would think they would fine tune it before putting it to market. 8bitdo has put out dozens of blutooth/wireless controllers, and they have been great. So fingers crossed this is as well.