Its relative. Top 10 isn't a great performance for MM's standards when he has literally always been top 10.
1) MM was above Crono in 2013 2) MM just recently got MM11 3) MM is in Smash Ultimate which is on day 3 of release and Crono is not
Its pretty bad for MM to lose to Crono under these conditions
Youre forgetting crono is stronger than MM outright right now. Makes sense with low votals. So MM maybe is being boosted. Just not enough to beat Crono.