I think Nintendo decided against holding a traditional E3 conference for a reason this year. Through their Nintendo Directs they have been revealing new games and other major announcements every other month for a while now. Perhaps we should stop thinking about E3 as THE major event where Nintendo is gonna blow out all the big news. So in this regard I don't feel Nintendo is out of touch.
Nintendo fans also seem to forget sometimes that Nintendo is a business. So while I can totally understand why fans might be disappointed by Nintendo playing it really safe, it's quite understandable from a business perspective. Nintendo might deny it but it's quite obvious to me that they are trying to maximize their ROI with games like Mario 3D Land for WiiU. And until sales of WiiU improve drastically I doubt their strategy will (or should) change anytime soon.
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