I think they need to be a lot faster to spend their cash reserves on getting the right games and the right publishers onto the Wii U. So when Rockstar/EA/Bethesda announce their big games that 'can't run' on the Wii U despite working fine on PS360, Nintendo should turn around and say 'we'll pay for the port'.
They should have bought Atlus, they should buy Capcom when they go belly up, and they should buy back Rare.
Nintendo has huge amounts of cash (in a nutshell, this is why you can ignore anyone who says it'll be the next Dreamcast), but they need to be bullish in how they use it. Microsoft especially relies on 3rd parties for support, Nintendo should be buying their exclusives out from under them. Imagine the shitstorm if something on the level of Borderlands was a Nintendo exclusive.
They should also be sniffing around the great games that didn't have huge commercial success (like Bayonetta). Personally I LOVED Bulletstorm; it had that Nintendo charm to it, whilst also being a bloody, funny, immature FPS. Nintendo should be paying for Epic and People Can Fly to be making Bulletstorm 2 on the Wii U.
Nintendo says they aren't competing with Microsoft and Sony in the console space, but the simple fact is that if Nintendo used their financial grunt to get the 3rd party exclusives, along with their own (and if you don't like Mario Kart/Smash Bros then I'm sorry, but you shouldn't call yourself a gamer), and the build quality of their hardware, then they wouldn't be competing; they'd be annihilating.
Fortunately though, for Sony and Microsoft (whose financials aren't exactly rosy atm) Nintendo aren't that sort of company...
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