Nintendo having all their games available everywhere a better business than restricting them to a console?

[Soundwave]

Nintendo makes a fair amount of profit (biiiiiig difference between profit and revenue though) on portable hardware, but if that's a shrinking market because of mobile, there's not much Nintendo can do there.

Consoles have largely been duds for them 2 out of the last 3 generations, I doubt they made a ton of money on GameCube or Wii U hardware itself.

The whole razor blade model of dedicated game hardware is to sell the hardware close to cost, because you want to make money off software.