If you are trying to make a multiplat game, Wii just complicates things. It's notoriously easy to make a game for both PS3 and 360, but to add Wii to the equation requires either going through and stripmining your own game or developing a game that is going to technologically underperform on the HD consoles. When you consider that almost every game in the top 20 sales numbers on Wii is either first party or a party game, it seems like developers would make more cash by just skipping Wii altogether and moving on to another project on the 2 HD systems.
There's also the fact that, overall, Wii's software sales are not on the same level as console sales. Outside of the Wii Sports/Wii Fit gimmicky stuff, Wii doesn't really outsell the other consoles in terms of software by a large margin. If a developer can sell better on the HD consoles with less work, why wouldn't they?
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