Nintendo's problem isn't a lack of new IPs, but an unwillingness to change. Nintendo's original MO with games came with the SNES, when games were aimed at children. These days most gamers are in their 20s or 30s, and fact is Mario doesn't interest them.
Really, Nintendo should have known this. Majora's Mask had a cool reception back in 2001 and was largely forgotten right after launch, but between 2005 and 2007 people started citing it as their favorite Zelda game. It's not because the new Zelda games were bad--were that true everyone would refer to Ocarina--but because these fans grew up and their tastes changed.
The story of Nintendo is a billion games which look fantastic for what they are, but don't really interest me. They could make the best Mario game of all time, but I'm really not interested.
This is a real shame. Nintendo can make some really mature stuff without going above an E rating, and with Bioware throwing in gay sex scenes just 'cuz, that's a really rare gift. It's a shame that the corporate marketing ploy will never let them use it
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