So, apparently you're not aware of something called the development process. Do you think Naughty Dog just sits down and two months later has Uncharted 3? Not exactly how it works.
You start with a rough idea. A first draft, similar to what you've have in every other medium. First drafts, generally speaking, are not that great. There is probably something good and worthwhile in there, but it's unpolished and needs serious revision.
The products shown at E3, particularly Star Fox, were drafts. Ideas that will hopefully be further developed. I think Project Guard and more so Project Robot, looked pretty neat. Obviously neither is a full product ready to be sold for $60 (although I'd totally pay 5-10 dollars for Robo) so they're obviously not perfect. What they certainly are is creative and unique (and if you can't see how Guard is different from other tower defense games then you haven't seen it or you haven't played other tower defense games).
Star Fox wasn't revealed because it wasn't ready. Simple as that. Nintendo wanted to show their fans it was in development, but the game wasn't ready for a full blown reveal. You could question whether Nintendo should have shown anything at all if they weren't going for a full blown reveal, but that has little to do with Miyamoto's skill or value.
Basically, you're suggesting a man who has arguably created more revolutionary games than anyone else in the industry because one game wasn't good and because 3 demos he was working at aren't fully polished games. Internet sensationalism at its finest.