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My main issues are:

1 - They have many great IP's, but don't have enough studios to take full advantage of them. Just to name a few, we've yet to see in this gen a true Metroid game, Advance Wars, F-Zero, Punch-Out! , Golden Sun and Eternal Darkness.
2 - They are terrible at handling the transition between generations, at least for home consoles. Happened with the Wii and it's happening again with Wii U.
3 - The lack of a meaningful support from third parties even in the only region where they still reign.
4 - Region lock is just plain stupid at this point, NoA's decisions concerning the localization of some games available in physical format in Europe as digital-only titles (aka Fatal Frame V) doesn't help to bear it.
4 - Lack of support in my region. South America isn't exactly a big market, but the fact that I couldn't find an AC Adapter for my 3DS in the whole country and had to end up importing one speaks volumes of their lack of interest in it. In many stores you'll be able to find more games for Vita than for Wii U and 3DS put together, 3DS games are also more expensive than PS4 ones...
5 - My Nintendo still doesn't reward the purchase of physical games...