Yessir, the glitch was found out by a guy who played the game and said "I want to play master hand", took him 30 minutes to find out how to use him without cheating via debug.
He simply realized that master hand only made since to be played by player 3, because in each encounter master hand's health is in the 3rd spot. He then realized that if no character was selected, the game would automatically default to master hand. Finally, he realized master hand always target the highest player example : player 1 over player 4, because that's what he would do in the original mode.
I used him to do some of the more difficult event matches. Like you vs. crazy hand and master hand. Him lacking a pushback makes for a sure win in any stock event. Just be sure not to pick maps like Corneria because the game will sometimes glitch. Also: when master hand wins, it generally says "Sheik wins" in the stat page.
What hasn't been explained is why on earth when you play on pokemon stadium, the scoreboard recognizes master hand as a player instead of sheik.
Anyways: I get your point about gannondorf, he is just my personal #1 because of his playing style. His Down A is awesome, I like his charged kick, and I like his small taps doing 15%