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Only part I don't like is the part where MS gets 10% control.

It should be MS gets some level of Nintendo shares, plus cash, plus 10yr deal on networking / server support.

That gives Nintendo and MS a lot of good $, tech and immediate business. It allows Nintendo to retain full control while filling its largest gap. It also gives MS 10yrs to recoup the lost money from Xbox while also retaining a cloud services division model it can grow and focus on.

Nintendo will not give up control of IPs or game development. That is why they walked away from Sony pre-PlayStation.