Everyone says that Conan's inclusion in the series would imply that 80's characters return into the series. And well, that is a fair assumption, but I have another theory.
Conan the Barbarian, overall, has a large in depth history of appearing in stories, from stories in magazines to books and, get this, comics!
Basically what I am theorizing is that Conan the Barbarian's appearance in Mortal Kombat 1 is less so a return to 80's icons, and more so another inclusion of the primary theme of Mortal Kombat 1's Guest Characters: Comics.
Now of course, yes, he is a continuation of Arnold Schwarzenegger's appearance of him in the films "Conan the Barbarian" and "Conan the Destroyer", but that doesn't invalidate his existence as a comic character. If that were to happen, then I guess we would have to invalidate John Cena's performance as Peacemaker since that's exactly the version they used him for in the game.
So yeah, my theory is that Conan the Barbarian is actually meant to be Kombat Pack 2's comic book character, which leaves Ghostface and The T-1000 the outliers.... I wonder what they're meant to hint....