I believe Nintendo (just like any other company) should valorize its streghts first and then build on 'em.
The effect of VR in gaming has mostly to with immersion, and Nintendo is not about immersive games right now (thay haven't been in while). Today they're more about multiplayer games, pick-up and play games, platform games.
There's not much reason for them to be front runners in VR, since they wouldn't have a copetitive advatage against Sony anyway.
If I were them I would focus more on other gaming tends, like Minecraft and user generated content in general.
edit: To make a comparison, Nintendo made a similar bet with 3DS - which is basically a more immersive DS with stereoscopic 3D and better graphics. It didn't play out very well, because immersion is not what sells Nintendo games and hardware ultimately.
