And...experience.
Microsoft and Sony look like amateurs next to Nintendo right now. They think they are disputing the markets living room, but they have already lost. When most of the people think of a cool videogame machine for the living room the most distinctive image belongs to Nintendo. The Wii owns the living room with Wii Sports and Wii fit. Everyone is invited to this party. No surprise they are the market leader. Playstation and Xbox are associated with teenagers and some inmature adults. You can show off your Wii to everybody, but only some people, that specific market segment, would feel impressed with the 360 or the ps3.
And... lack of arrogance (which is something Sony and Microsoft have by tons). Nintendo is great. Miyamoto is a genious. They made great games and also great hardware. But they never take success for granted.
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