Capcom are the worst.

How many versions and remasters of RE series have we got so far lol.

I think Nintendo often takes more risks in terms of gameplay and hardware because they don't follow industry standards, which is also a major weakness. On the other hand, I think there is a major difference in hiring staff since they often tend to hire designers and non-gamers to make games. Companies that hire game fans of their previous works tend to stagnate and usually end up improving or enhancing what those already loved during childhood. This new IP thing is pretty new since Splatoons success. In recent years Nintendo also experimented with plenty of ideas just adding Mario or Pokemon to the formula. Having such strong mascot(s) that usually push sales easily over 1 million, helped Nintendo a lot over the past decades. While the Monster Hunter spinoff, for instance, flopped hard.

They took the risk in Bayo1 and it didn't pay out. Bayo2 wasn't a risk for Nintendo it was a calculated loss on the game to increase game count and diversity on WiiU.

I don't see much point in that comparison, to be honest. Nintendo has far more money to spend, a build-in platform for pushing their own content, and a need to produce software to sell their console. Not even close to the same starting point.

And as far as comparing game budgets between third-party and first-party efforts, first-party titles do not have the same overhead. It's not the same situation and people need to stop acting like it's not going to be more expensive for a third-party publisher to produce the same content.

Besides, you can't much fault companies for Yakuza or Monster Hunter when Nintendo has developed over 11,000 Mario-themed games in the same timespan.

Nintendo does as Nintendo does, simple as that.

Still waiting on an in house developed M rated game given the full marketing support and power of the Nintendo brand.

They're a bit of a mixed bag. They push the envelope in many ways because they rely very much on their tried and true formulas and franchises to fund some of the riskier endeavors. Ever publisher does this, but they've had a bit more success in recent times with Splatoon.

A few factors to consider:

Nintendo is WAAAAAAY bigger than all of those companies. Their executive staff has WAAAAAY more influence.
Corporate third parties, even though they may still have a lot of money, are driven to keep consistent and predictable incomes - otherwise, shares drop in value and the board fires the executive staff.

Nintendo's executive staff apparently has a lot more power and influence than others (in most industries), this is why they can give the board the middle finger and do what they want... I remember people, even in this forum, were angry about Iwata keeping his position and wanted the board to fire him - but basically, he had to die in order to lose his position no matter what those assholes demanded. Even crazy old Yamauchi managed to stay in power after numerous controversies throughout the 1990s, and only retired from the position when he felt he as too old and had it effectively given to his hand-chosen successor. I think things are a little shaken up in Nintendo right now, though. It's my doubt Iwata planned to give up his position in the next 20-30 years if not for his illness.

I generally agree with the OP. But, it must be remembered that Nintendo's whoring out of Mario is in a whole different ballpark than everyone else in gaming. They shoehorned him into racing, fighting, sports, turn based RPGs, action RPGs, puzzles, party games, and just about every major genre out there, excluding shooters. I'm surprised Splatoon isn't set in the Mario universe, frankly.

Nobody else does anything like this. So, in some senses, Nintendo is the least adventurous.

There’s not really anything that indicates they’re afraid to do any of that. AAA games are generally iterative... Is an “AA game” even a thing? What you have to look at is what they are doing, not what they aren’t: otherwise you  might as well say “Nintendo is afraid to make cars.” because they don’t do it: or “Nintendo is afraid to have a party in Oslo” or “Nintendo is afraid to realease an ARMS colouring book aimed at adults.”