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Technically this DOES have something to do with the PS4/720.  Nintendo would be going up directly against their announcements in the main auditorium.  It appears they are trying to take a side approach to combating the hype of their competitors (spreading out multiple announcements).  Might actually work to their advantage having 5-10 hours of mindshare spread out over days vs going head to head with a 1-2 hour big presentation.

I'm not defending or condemning what Nintendo is doing, I'm just stating a potential reason for the move.  Companies (unlike fans) try NOT to do things based off of emotion.  My guess is that Nintendo has some reasoning behind the move.

WORST case scenario is that they have nothing to show, which seems doubtful.