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Splatoon was certainly a low budget game, otherwise it would have been in development for far more than a a year and a half, plus it would have packed various features from launch that it didn't have at the time, which makes it one of the biggest successes of Nintendo this generation given that the game was sold at 60$ in most countries. Of course I don't consider the marketing part of the budget, Nintendo certainly decides how much they'll invest into advertising a game only after it's development has ended and when they have a clear picture of how well they think the game will sell.