I have two thoughts I thought I would share. First, is that the choice of Odyssey in the name resembles the choice Sega made to name the Sonic mainline game on (what would become) their last console "Adventure". I mean adventure and odyssey are almost synonyms, so wouldn't it be ironic if this console actually became the swan song of Nintendo's consoles, like it did for Sega? It would be a weird coincidence, to say the least.
Secondly, I just wanted to note that last night I watched videogamedunkey's vid of the game Time Zone, and man did that game make me think of SMO's idea of throwing Mario's hat. Sure, SMO won't be the first platformer where you throw your hat to attack or whatever.
Still, I started looking further into this and the more I read the more I see a conspiracy of a sort. From mobygames I see the cover art of Time Zone showing a kid looking a lot like a mix of Mario and Ness. Then I read that the creator, Kenji Eno, passed away at only 42 in 2013, and he had a certain fame in Japan. Fumito Ueda (Ico, SoC, TLG), started his career working for him, and in The Last Guardian's credits we find a special thanks to Eno for this reason.
Kenji Eno's company developed the game D2 which was the first title announced for the Sega Dreamcast. At the same time Super Mario Odyssey was one of the first announced for the Switch, being in the reveal. If you delve deep enough into this, you'd think Nintendo giving Mario the hat move is a subtle way of paying respect to Kenji Eno. SMO is said to be almost finished, so believing that development started around 2013-2014 isn't too far-fetched. After all, Time Zone was released for Nintendo's NES.
Anyways, this is probably just some random coincidental bullsh*t. I need to get a life.
Sources:
Dunkey's Timezone
https://youtu.be/-bUN8Ejnyuo
Mobygames Time Zone NES
http://www.mobygames.com/game/time-zone_