I'd be curious to see how much money they take in (or lose) total when combining the profit from this with how much money they have to dish out for exclusive games or to make 3rd parties happy. Yes, Nintendo doesn't get money from have online for their customers but they also aren't forced to suck up to companies like EA, Activision, or Ubisoft because people buy Nintendo products to play Nintendo games (typically) and not those games anyway.
Still, over the last 30 years, Nintendo has by FAR dominated the profit margin compared to any other video game hardware/software maker.