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kowenicki said:

I still cant work out why some Nintendo fans and indeed fans of other platforms think this mobile venture is a bad idea for Nintendo.

Its a great idea.  It will increase revenue and allow nintendo to survive for the evental transition to digital and streaming services that is coming for all of gaming one day.

I see RIP posts here and on GAF (pfft what do those fools know) and I'm perplexed.

Can someone explain to me how this is bad?  I see nothing but positivity here.

This annoncement just added over $3bn to the market cap of Nintendo in less than 1 hour.

The quick answer to your question is that it is because the fans have not studied the details of what was said in the conference, whereas business investors will have.

They have (quite understandably) concerns that Nintendo will be 'selling out' - and it will ruin the value of their ip. There are concerns that Nintendo will be dedicating less resources to console gaming - or maybe quit console gaming entirely. They are concerned that the gain from moving to mobile will only be short term.

If they had studied the details they'd know that Nintendo has no intention of giving up the dedicated console business, and they have no intention of porting existing titles to mobile, because Nintendo, like their fans, do not want to cheapen their ip by delivering a sub-par experience that is limited by the controls of the devices they're porting to. They have not lost their belief that dedicated console gaming has a strong future.