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I think a lot of the people who say "I still love Nintendo" really don't, they just remember loving Nintendo and confuse that with their present feelings. It would probably be more true to say that many former Nintendo fans feel something closer to apathy than anything else.

The thing with Nintendo's popularity isn't so much that they lost it, it's that they surrendered it without a fight. That probably caused a bit of resentment with former fans. Gaming was growing in different directions and a lot of people looked back at Nintendo, wondering if they would expand, too, but Nintendo did not follow. They let those fans drift away.