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In my opinion, Little Mac ought to fight this Boss character instead.
Little Mac's Classic Mode route in Super Smash Bros. Ultimate is called "Friendly Sparring". According to the Super Smash Bros. wiki, "Little Mac fights fighters that are close range martial artists." ...That is, all but the Final Round with Master Hand.
I don't consider Master Hand & Crazy Hand to be the suitable boss characters for this Classic Mode, even though they kinda fit the theme; I mean, they're gloves for God sakes. Maybe if the Hands were fought at the Boxing Ring ? form instead of Final Destination...
However, Bowser/Giga Bowser would probably be a better choice because he fits the theme just like he does with Captain Falcon's Classic Mode; close combat, a physical-majority moveset and Bowser's well-known for punching attacks. For those (few) who played past "Mario & Sonic Olympic Games" installments, Bowser even wears boxing gloves for said event (obvious proof: https://www.mariowiki.com/File:Rio_3DS_Boxing.jpg).
If there were ever to be an update for SSBU that would change the Boss character for Classic Modes, Little Mac ought to fight this guy instead.