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I think they are just being honest. It is a hardware thing more than a sales thing.
The wii sold "billions" and yet had little third party support because of weak hardware and poor third party sales with certain genres of games.

This is a business and they have to choose what they think is financially best for them, not waste money on developing games to keep a handful of gamers happy. I do not have data regarding Bethesda game sales on the wii platform but I dont think it can be that impressive, meaning I don't think this is a major blow for either side, especially Bethseda.