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RolStoppable said:
It's not a mistake.

If you aren't attending E3, both a conference and a Direct will be a stream to you. Additionally, the Direct last year cut out the business talk which a lot of gamers loathe so much and was shifted into seperate presentations for journalists and investors/analysts.

The only case I can make for it not being a mistake is that E3 has become a PlayStation and Xbox centric event. Nintendo does't need to compete with the likes of Assassin's Creed, Halo or God of War, because their audiences are different. Nintendo stands out like a sore thumb at E3 presentations. They cater to a more casual audience that won't even watch the conference. So why bother spend the money?

Well: it's also a huge mistake in that the covereage that they will be getting via their Direct (if they do one) won't be the same as if they were presenting at E3. Major publications outside of gaming write articles about E3. Major publications outside of gaming journalism will not be writing about Iwata's Vlog.