I get the controller cradle/stand, but what's the point of the console stand? Can the Wii U be placed vertically like the Wii/PS2? I thought Nintendo said no to this.

Better airflow, better stability, better positioning.

I hope not. The black version better not be getting higher FPS because of that.

making money

to hold it vertically...

Drive the price of oil up with more plastic consumption.

The WiiU has rounded edges and can't stand upright on its own, hence the extra plastic stand.

Yeah, I do remember Nintendo saying something about how the console should be placed horizontally so it looks different from Wii.

It makes the Wii U go faster.

Aren't there vents on both sides of the console though? Even with a stand one side would probably be too close to the ground and would get extremely hot.

Mainly for aesthetic purposes only, doubt it has much use outside of that.