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I think it probably shows an early 2020 release. They don't want to kill 2019 sales, so are holding off for a PSX announcement probably no more than a few months before launch. I can't see it being replaced by a direct style event going forward, but if it is just that, it has not done Nintendo any harm. It might well backfire with third party titles though, all none exclusive ones will probably end up on Microsoft's show by default.