This shit had me cracking up xD As someone who knows nothing about F-Zero ... this left me really confused ... 

Here's the original video without commentary:

The real reason is sales. It doesn't make them enough money. That's all.

Oh............I thought it was because of the cutscenes. Never mind. 

Don't feel bad, we all make mistakes.

Those cutscenes are entirely on Sega.

They asked criterion to make one. They turned Nintendo down. People thought Metroid was dead as well. Same with Kid Icarus. Same with Star Fox. Nintendo will bring the series back when they want and they will eventually. Mario Kart 8 was compensation until they do. Besides, there is Fast RMX and next month Redout is coming to Switch at retail.

Hmm... i still think they could hire Shin'en to make it with a modest budget. With that said, i think the biggest hurde is finding a team willing to do it.

No. Shin'en has said they are not interested in making F-Zero. Shin'en is 5 people.

The real reason is that the highly influential developers at Nintendo don't really want to make one and the games don't sell great in Japan or anywhere especially.

Much like their other B level franchises they seem more willing to let other developers handle those games while their in house group handles the big franchises or sometimes the new experimental games like Splatoon or Arms.

That was probably from Nintendo's own artwork team probably.