It would because of the current cast. back in CT they did it with no problems because there were not a lot of characters.
I am just bothered by how much emphasy there is on the Main Charactes only. It's a fighting game for fuck sake, show something newcomers didn't saw yet.
What would be better is alternate cover art.
Say, PS3 is different than Xbox, and they both are reverseable covers. That way you'd only need 4 or 5 characters on each picture. You could even sort them, like Sector 7 / the Librarium / The Six Heroes / etc, or bad guys / good guys, or whatever.
Or they could do a stylized verson of the character select screen to include everyone.