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They don't need to do anything.

The solution to this problem lies in the progression of competition in the industry. I could foresee months in advance that Nintendo would have a hard time this E3. You can see it in people's expectations, in 2004 most people were absolutely past looking at Nintendo closely. Because they weren't a market leader then, people came to accept things more quickly. Prior to this E3 however the sentiment was "they better", this can only lead one place no matter what is done.

If you think about 2004 the only thing that wowed gamers was Zelda. That was one game. If they were to do that today it would never work, gamers would look at the visuals, at the art style, at the design choices. Some of them would find it too similar to past Zeldas, others would find it too different. So there's no winning when you're in the "they better" position. Nintendo's negative momentum from last year wasn't the sinking feeling kind of 2003. I get the sense this year that(sinking feeling) was more prominent, because even though Nintendo announced the core games, people subconsciously or not, are coming to the realization that this is at base a small company.

Nintendo focused on making sure this is transparent, for instance Metroid Other M being handled by Team Ninja, and Miyamoto's remarks about Zelda. With the way expectations were a lot of people were imagining Zelda would be practically ready by now, this E3 is sort of like 2003. I'm not saying next year will be great, but in terms of the theme it's very much like 2003. It's a reality check for people looking up to Nintendo to lead in a resourceful way. Nintendo can't satisfy the collective consciousness without going through this period of level-headed disappointment.

Which by the way is not what happened last year. Last year it was anger, not disappointment. This year the mission will be to get expectations in line with what's realistically Nintendo's functions. People are being overserved(by other companies), yet instead of moving along they insist in demanding from Nintendo things they will not do. To become things they are not.

Another thing they could do, actually, is simply make the Wii HD.

I know you may find this a little pointless, you might think people will say "oh, they're late to the game".But do not believe that would be the case necessarily. Many people want HD content, and only HD content. Switching back and forth makes everything look both better and worse. And you can derive from that a lot of the separation we're seeing.

However I know Nintendo won't do this, so the real answer is they need another scape goat. The moment when the Wii was accepted was the moment the PS3 price was announced(along with Sixaxis in an arrogant fashion, which raised the likability factor for Nintendo). They need one of their competitors to screw up amazingly and in a way that relates to them. THIS would do it. I guarantee it.

But you cannot plan that can you? At least not Nintendo.