I think the biggest issue for third parties is the amount of marketing these games require. Wii Fit's marketing budget is soon going to eclipse $100 milion, and while Nintendo are no doubt reaping the rewards for that investment it's a big stumbling block for third parties, as they don't also benefit from advertising the Wii.
Releasing a fitness game and not marketing it isn't really an option, as everyone wants Wii Fit, and I doubt they'll buy another game for fitness unless it's rammed down their throats on TV and whatnot. Bring out a much cheaper fitness game which uses the balance board would sell enough to see profit but not the returns the big publishers expect.
It'll be interesting to see how EA's attempt at getting some of Nintendo's market goes, as the key to having a chance is spending big on marketing. I'm skeptical if EA will see a decent return ultimately though, as the amount of marketing required isn't viable when you're also competiting with Nintendo on the exact same product.
Third parties like EA have to try and get a piece of the market though - they can't ignore something like Wii Fit. It's just not an option.
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