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There are no way Nintendo will make a big acquisition like Microsoft did with Bethesda, because it would make zero sense financially, it would cost them a lot of money, money they would never recover. Bethesda was not very successful with their games. Microsoft was willing to step in, absorb the losses, in order to boost their catalog of games for their subscription system, which is losing money too.

Nintendo's core business is videogames and they can't afford to lose money for the hope that they may get it back in 10 years. Nintendo profits are the biggest currently in the market and it shows that their strategy is the working perfectly.