Nintendo has created several new IP on the Switch, but none of them had that "wow" factor.  People are used to Nintendo making new games that make us go "wow".  When I think of new IP on Switch that has that wow factor I think of Octopath Traveler and Mario + Rabbids (yeah, spinoff games still count).  One thing that these two games have in common is that they were not developed by Nintendo owned studios.  It is actually something of a troubling sign.  Right now the way that Nintendo gets new interesting IP is to hire someone else to make it.

People still remember the Wii/DS days where Nintendo just created hit after hit like they were made out of magic.  Even during the Wii U flop, they still created Splatoon and Mario Maker (and technically BotW as well).  So, it's a natural question, "Where has that Nintendo magic gone?"  It could be that we are about to see it next year, for example.  Or it could be that the Nintendo magic was largely dependent upon Iwata who is not with us anymore.  It could be that Nintendo really needs better leadership, and if they got it, then we would see that Nintendo magic again.  

Only time will tell.

I've seen the phrase "peaksp before swine" three times in the last 24 hours. Twice on this site alone! Before that, I don't think I've heard it in at least a decade. What gives?

*Edit: I think it was Facebook, not this site. Still weird that such an obscure saying is making such a comeback, though.

Personally, I don't care if a franchise is new or not, what matters to me is if it is an excellent product or not. Also, what some companies "market" as "new IP" are actually previous gameplay idea's with little or NO innovation wrapped up in a new setting with a new character. Kinda like the same Burger but with a different package, but they call it a "NEW BURGER" nonetheless. In other words you can have 8 games with the SAME GAMEPLAY, but with different characters. There is a certain company that likes to do this, but I think I'm too smart to fall for their "OMG NEW IP" marketing trick.

Keep this on the down low, but I'm actually a Russian agent hired to spread pro-pearl and anti-pig messages in an effort to help the Andrew Yang campaign.  There are lots of us out there...

Nintendo generally tends to rely on their huge franchises.
Even if they want to create something new, they tend to do it with with big franchise names to go with the title.
Just look at how many genres they made out of mario .
Like it or not, Nintendo "for the most part" tend to play it safe and it isn't a bad thing.

They have only really done mini games or party games in house. They will always stick to thier core franchises Mario zelda donkey Kong etc

To be fair Sony does more than anyone else, MS probably do less than Nintendo.

You could say that about every major publisher.  They've all become very risk averse, as budgets have grown so huge.  They stick to a few tentpole franchises, and forget about all the rest.  

Tbf, Nintendo is much better about this than a lot of major publishers. They put out more games a year than most do in a single generation. It helps that most of their games are generally lower budget as well.

I think part of the criticism is not just the no new IP, but also new new game concepts. Does it matter if it is a character from a past game in a new environment? Like Nintendo could do a Wario business game. If Nintendo has a character that can fit a new game concept, why not use the older character?