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I think some acquisitions here and there are fine but it's mostly problematic.
Nintendo still put out plenty of games in some generations prior to Switch while having partners for Nintendo titles that weren't owned by Nintendo (Intelligent Systems, HAL, etc.) and plenty of games have come out for Switch with also some from studios not owned by Nintendo.
One of my biggest concerns about acquisitions in addition to Nintendo becoming even bigger than they already are forced console exclusivity even for non-Nintendo IPs potentially.



Lifetime Sales Predictions 

Switch: 161 million (was 73 million, then 96 million, then 113 million, then 125 million, then 144 million, then 151 million, then 156 million)

PS5: 122 million (was 105 million, then 115 million) Xbox Series X/S: 38 million (was 60 million, then 67 million, then 57 million. then 48 million. then 40 million)

Switch 2: 120 million (was 116 million)

PS4: 120 mil (was 100 then 130 million, then 122 million) Xbox One: 51 mil (was 50 then 55 mil)

3DS: 75.5 mil (was 73, then 77 million)

"Let go your earthly tether, enter the void, empty and become wind." - Guru Laghima