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So, the breakdown:

Most people with Nintendo avatars think this is great because 'they personally are going to be watching it streaming anyway.' Or 'a Smash tournament will be cool!' or 'YAY! Best Buy demos!' (the strongest argument out of the bunch.)

The majority of the rest say: 'This won't get the mainstream attention from the press or people who aren't intense Nintendo fans that it would have gotten if it was a regular conference.'

And the argument against that position is.... 'Smash tournament!'