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For other possible character additions, my friend and I were discussing the layout of the early shot of the Chrono Phantasma character selection screen for hints about what number (if any) of dlc characters or time released ones will be possible if Arc does not bother to alter the initial design. Based off of Continum Shift, there were 2 initial release characters (Yellow on Picture)
1. Tsubaki
2. Hazama
(My friend persuaded me from considering Mu as he feels she is not different enough in character design and back-story to qualify as a new addition to the cast as he feels she is a "rip-off" of his Nu/Lambda)
I included added circles one (Light-Blue) for Nu and one (Yellow) for Mu since they were just announced recently to be playable.
By the time all reiterations of Continuum shift were released there were 4 additional "dlc" or add-on characters (Orange on Picture):
1. Makoto (Continuum Shift 2)
2. Valkenhayn (Continuum Shift 2)
3. Platinum (Continuum Shift 2)
4. Relius (Continuum Shift 2)
So basically the number of initial "new" playable characters increased by a factor of 2 or they doubled.
In regards to Chrono Phantasma, we have 3 initial release characters ( Bullet, Azrael, and Amane have Green circles). If the trend persists then there is a possibility of including 6 additional characters (empty Green circles in picture)to the initial release cast as DLC or unlockables:
1. Saya or whoever is the arcade true boss- Justification; Fan speculation and Calamity Trigger Introduction of Hazama as the villain at the conclusion (I put her green circle below the random indicator just like Mu was underneathe the random character section in Continuum Shift).
2. Jubei-Justification; Fan Desired and Teach Me Ms. Litchi dialogue
3. Kokonoe-Justification; Fan Desired and Help Me Prof. Kokonoe dialogue
4. Caelica- Justification; Fan Desired in Japan and ending to Phase Shift 4
5. Phantom or Nine- Justification; Fan Speculated
6. Bloodedge- Justification; Fan desired, Mori possible plot twist, and Order-Sol correlation for Guilty Gear
This speculation is only using "new" possible playable characters that exist already in the BlazBlue universe and does not account for possible brand-new characters like the initial 3. I'm pretty sure Saya will be the arcade boss but not the final boss if the trend that started with Hazama in Continuum shift persists and that maybe the "Unlimited alternate outfit Tsubaki" may be the "true" arcade boss.The DLC characters will likely be characters fans recognize or want to play to provide incentive for their purchase and guarantee some sales. Because Chrono Phantasma is supposed to conclude the Six Heroes story arc, I believe Jubei and Nine/Phantom to be the most likely additions since fans are more likely to buy a DLC charcter that is strong according to the story since they might subconsciously translate story tiers for actual tiers and it ties well into the stated purpose of the game. What characters that might get placed into BlazBlue 4 makes some of these speculations unlikely as Arc would probably want to guarantee the most sales for the last in the chronology.
Feel free to provide negative or positive feed-back against my consensus with my friend on this speculation as I am open to other viewpoints or criticisms for what (if any) DLC or add-on characters will be available in later iiterations (if any) from other fans as I feel the character roster is just as vital as the game mechanics and balancing for the game when considering a day 1 purchase or waiting for a cheaper compilation version (which happened with Continuum Shift->Extend).