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Soundwave said:

Meanwhile Nintendo's happy to fund things like Wonderful 101, which apparently had a large budget at that, and proceeded to flop in Japan and then everywhere else worldwide. Would they allow a Western studio to do that? No way. 

Wonderful 101 was greenlight because Hideki Kamiya has proven himself as a skillful developer with good work ethic and has built his relationship with Nintendo with games like Viewtiful Joe on the Gamecube.  

Talent is hard to find and relationships take time to build, even Rare took time.  Though Nintendo should be actively looking for possible talented and driven partners in the West.

Nintendo could also strike deals to make another Epic Mickey, Goldeneye Reloaded or Rogue Squadron but it requires the right talent pool and the opportunity for a license must exist first.