It's not entirely subjective, tho. Sure, there's bound to be some subjection, but based on their commentary, they're using tangible evidence to quantify some of their picks. Ken & Ryu and Sub-Zero & Scorpion are obviously the most iconic in their series, but Dural, Ivy and Orchid are by no means the best by any of the data they use to prove their other picks. They're not iconic, they're not top-tier and I don't think they're very popular. It seriously seems like they picked these 3 primarily because of the T&A.
If that's the case, where's Mai Shiranui? I love Haomaru. He's one of my favorite SNK characters, but Mai is probably the most recognizable female character in the entire fighting genre, short of Chun Li and Cammy. She's definitely more well-known than Hao, too. (How many times have you seen her standing, bouncing animation in a random gif?) The fact that they sway between eye-candy, popularity, and recognizability makes this list suck.