It would if Nintendo hadn't been pitching the same line about realistic graphics for generations, including generations that they won. Realistic versus stylistic graphics will always be a debate with no winners and opinions are going to vary but given that Shigeru's background is in design, and he had created some of the most iconic characters in gaming, his opinion carries more weight than most on this particular topic.
Reggie is and always has been a spin doctor and I attach little weight to anything he says.