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Honestly. I do think they are. The price in Japan is high and it's not going to fair well if that same price point hits the west. Nintendos not alone though, many companies are arrogant nowadays because they had great success in previous gens.

Sony was arrogant and they admitted it, but look how far they have come with the PS3. 2-3 years ago the PS3 was jack but now it has arguably one of the best libraries of the current gen and even previous gens.