Yeah Kinect adventures sold like 20m (I think it was the best selling game that year) and it was the most notorious showing in E3 by miles mean while 2010 was one of Nintendo's best showings and sales that year slowed down, no wonder companies began cutting back on the event.
Yeah, I think Nintendo's decision to not have live stage events was smart. A lot of people who are nostalgic for the older E3 format don't seem to have very good memories of it. Most of the press conferences were 10% excitement and 90% boredom. In fact, the company that was usually on top was the one with the worst events. When Sony was on top with the PS2, they used to spend a good 10-15 minutes talking about sales and statistics. Nintendo used to do the same thing during the Wii-era. Nobody complained back then because it was expected. A lot of people also forget that the purpose of E3 was never to satisfy the fans. It was to satisfy retailers. This is because E3 was based on a presentation model that was put into place before live streaming on the internet was a thing. Fans never got to see E3 1995. They saw pictures of the event in magazines 2 months later. In fact, I would even argue that Nintendo's recent approach to E3 was more about reaching out to fans compared to what they used to do.
Check out my art blog: http://jon-erich-art.blogspot.com