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I don't know. On the one hand, they might as well since they haven't had a good E3 showing in years. If they don't care about it, they might as well quit doing it.

On the other, while I enjoy the Nintendo Directs I've watched and prefer this way of making a lot of showy announcements every month or two to saving up bombshells to "win" E3, they are mostly talking to people who are already Nintendo fans. I'm not sure that what Nintendo really needs right now is to become even more insular than they already are.