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Because they have to share the limelight. It's not like Nintendo magically doesn't have announcements anymore. They just choose not to announce them during a three-way competition. Eventually, Nintendo is going to make the same announcements they would have during GDC, but when the announcements are made, both Sony and Microsoft will have used up all their good material, and the whole press will be focusing on Nintendo. I mean, the *real* example is

Article 1: Microsoft says this, but Sony says that, but Microsoft says this, too.
Article 2, two weeks later: Look at all the cool stuff Nintendo said!
That second article, while a bit later chronologically, is MUCH more impressive.