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I believe this is a very smart move on Nintendo's part. There's no way they can directly compete with the other guys who have been doing it for so many more years. You bring up a good question of why they haven't themselves already been working on this for a number of years, and I believe part of the answer is that they didn't need to, and couldn't, with the Wii. With the Wii U being their first chance to do this, they of course have missed out on a number of years.

The Wii really seems to be a bittersweet thing for Nintendo. It offered them amazing short-term gains, but it seems as if it didn't set them up for future gains well (with new consoles and tech changes).