Yeah, Ninja Theory became way to dependent on Senua IP. I wish Nintendo could help them out. They can grow with Nintendo as they are visionaries, forward thinkers, and like to micromanage which is essential in game development. If Nintendo was willing to invest in Bayonetta brand, I think Senua might make sense. It could sell 2 to 3 millions units being Switch 2 exclusive.

Nintendo appeals to everyone, and is family friendly.
Their 1st party games are not dark, filled with gore, horror, killings, mental illness and hallucinations ...   It goes against what nintendo stands for at its core.

Nintendo might agree to fund a exclusive 3rd party money hat, if they can get Senua as a exclusive (i.e we'll help you fund last 1 year of development of the game) if Xb/MS allows them to use the work/IP.  That is a tough sell though, first they would need to buy themselves out, and beg nintendo to do the rest (1+ year of salaries at minimum and marketing for them).

I just don't see that happening.
There is a better chance with playstation.... as they atleast have a install base that would gravitate towards the story telling aspects,
and already have had Hellblade 1 + 2.

But again sony would likely not buy Ninja theory. 
And I don't think Ninja theory has or can raise the capital to buy itself out.... nor would Xbox be happy just giving away 3/4th's of a finished game.

Its just dead, imo.

Studio closes, no game ever gets released, people are let go, and have to start looking for new jobs. the end.

I think Double Fine would be a good fit for Nintendo. Quirky and smaller games has a good chance of doing well on the Switch 2.

Double Fine is the only one of these three that could realistically spin off.

I can't imagine Ninja Theory or Compulsion staying afloat.

They will do the thing with cutting it to the bone and then go public. Floating the company on the stock exchange to get their money back.

Essentially we are going to back at the beginning with activation blizzard king.

The Legacy coming from the end of the last generation to what Xbox's at would make for one of the most insane gaming documentary the medium has seen.
Overspending, over extending yourself, unsustainable buisness practices, then finally backing down from it's own essence and brand diluted to a point they finally had to make a 180° that'll result in other layoffs of multiples studios they technically need for their own prestige.

Really, the best phrase Microsoft has taught us about Xbox in the last few years " Xbox has taught us to not trust Xbox"

Nintendo has published some pretty adult games before; Bayonetta 2 and 3, Eternal Darkness, Fatal Frame 4 and 5.

"Just FYI I am working on a Ninja Theory report like I did with Bluepoint. I have a handful of people giving me info (all confirmed employees). I can confirm that NT wanted to show off Senua at the Showcase. Microsoft did not “force” them. Also, MS is willing to part with Hellblade franchise and NT Mo Cap tech if price is right. Problem is NT wants to be released to do their own thing and shop themselves with their tech and IP rather than MS trying to do it for them."

If this is true it was Ninja Theory that wanted to show off Senua as they want to be released and the hope is showing the game off will help them get investors to be able to go independent.

"Playstation cuts are coming. I know we have all talked about Bungie (which will get hammered), but we need to look at Naughty Dog, Bend, Haven, and Nixxes as being affected this year. Not nearly as drastic as the estimated 40% hit going to Bungie, but I don’t think 8-10% cuts for these other studios are out of the question based on how much Playstation is needing to trim to their margins."

PlayStation layoffs at more than just Bungie are also possibly coming. 

Xenoblade has done all of this. Tragic stories. Cursing. Murder. Blood. Body horror(end of Torna looking like a scene out of The Thing). Delusions.  True it keeps it T but it is there and can be pretty dark. Not to mention Nintendo owns Eternal Darkness. Published many M rated games.

Not saying they go full Dead Space.  Fire Emblem (I am not sure about recent ones) have dealt with some really dark themes and some truly fucked up instances but many of those stayed in Japan so there is that. As did Captain Rainbow which has a mission you find Birdo's Dildo. Some Famicom DC games can deal in some harsher themes. That said no Nintendo is not the right fit for NT. Nintendo values gameplay first and sorry NT's games range from bad to average at best. While true Nintendo is known for getting the best out of studios. Mercury Steam with Metroid Dread. Personally I don't think NT games are very good. They are better at making tech than games. That will benefit a Sony or some third party big publisher. Not Nintendo who makes their own engines and sometimes use a UE. 

I think NT are pretty good at crafting mature action games. Their best games like DMC and Hellblade sold more than 1 millions copies. They could help Nintendo with UE optimizations too. Nintendo would have to reduce the budget for Senua to around $40 millions though. Other than that they are pretty good fit for western mature games that Nintendo lack. We'll see of course, the chances are low, but the studio is pretty good, just mismanaged by the corporate.