I think 3D platformers themselves are struggling since they've been done ad nauseum. Or in other words, the only one that is really standing the test of time is the one that truly innovated it in the first place: Super Mario. From Super Mario 64 on, they've remained the king of 3D platformers to the point that either no one can really compete, or that the ideas are running thin. FPS games are having this same exhaustion, the only difference is that the development and marketing budgets funding the big ones are coming from very, VERY deep pockets. If any 3D platformer had the money behind it that CoD does (or did, I think this year's seems to be weaker marketing), they would also sell 10+ million copies.
It's just not a popular genre at the moment and there's little room for innovation outside of Super Mario, and even then, let's face it: like many people, Super Mario Galaxy is still considered the pinnacle, so Nintendo has yet to outdo even themselves in the 3D platformer arena.
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