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VAMatt said:

Nah. Legal doesn't equal right.  They are morally in the wrong here.  Nintendo loses nothing from the use of their music on Youtube, as they aren't selling the music, nor does it seem likely that they ever will.  But, by taking it down, the channel owner and all of the people that would view the videos and/or listen to the music lose.  So, they are literally taking from everyone for absolutely no reason.  

Thank you for this excellent post.  Yes, not all laws are just and so morality and legality intersect but do not always overlap.  I personally believe that copyright law is deeply flawed and needs to be re-conceptualized for the 21st century.