Looks like I'm one of the few that's happy to see two Smash games. They might be from the same series but they are very different beasts and attract different kind of players. I know, you can say that about any fighting game series but hey, I'm a big Smash fan.
@nathanxplosion : I doubt the Smash community will let go of Melee anytime soon. The overall reception from Smash 4 is pretty positive so far in a "It's better than Brawl" sort of way. For me personally, it's probably my favorite Smash game next to Project M. At higher level play, Melee is still a happy accident that allows for more impressive technical play, making it a "faster" and "deeper" game to some. I prefer playing Smash 4 and I like watching tournaments but Project M and Melee are still considered THE competitive "tryhard/hardcore" Smash games.