I posted this in the News thread about pac-man and in the fighting game group last night. This is S-Tier trolling by Capcom, but it's brilliant none the less. A true Mega Man fan would get the in joke about all this and wouldn't complain, but embrace this silliness. I couldn't stop laughing when I saw the pics and trailer last night, good job Capcom.
Really I don't see this as offensive or anything, and butt hurt Mega Man fans need to chill out a bit. I LOVE Mega Man, am as big a fan as the next person, but I don't see Capcom doing this out of douchieness towards the fans.
Now I am hoping he isn't a "Dan" or "Roll tier" if you get my drift. Hell I'd laugh my ass even more if he was a top tier character. I'm definitely gonna play him, although unless he turns out to be a good character that I have good synergy with, he won't be my main or anything like that.
EDIT: Also, according to a recent article on Siliconera, Mr. Ono actually consulted Infaune about this.
Mega Man creator Keiji Inafune had a say about including Mega Man in Street Fighter X Tekken. "I consulted with Mr. Megaman(his name is Mr.I?) about it 1 years ago. It?s [a] result," producer Yoshinori Ono tweeted to a fan asking why Bad Box Art Mega Man was selected for the fighting game.
So there ya go, Mr Mega Man himself had a hand in this and probably approved of the joke. And His character description references Mega Man Legends too which is a nice nod.