Although it is sad to see negative news like this, it also makes me excited, because Nintendo will respond, be it soon or down the line, with new games, new hardware, etc. with a fresh vision.
Nintendo's problem is that they make mistakes a company really shouldn't be making.
It's been one mistake after another with apparently no lessons being learned along the way.
They rushed the Wii U out onto the market with no AAA games, they hardly marketed the system and then they predict that it would sell 9 million units.
Nintendo really need a new direction, they need someone young, ambitious and who understands what gamers want.
Now I'm not suggesting that Nintendo becomes like Sony and Microsoft, but when it comes to marketing and creating hype about your products, few companies have done a better job than Sony with the PS4.
Nintendo really need to improve on marketing, they need to invest in more games development studios, they need to bring out some of their older IP's and more importantly they need to create new IP's.
Nevermind worrying about Miyamoto's new IP, the guy should be enjoying a well-earned retirement, there must be thousands of employees at Nintendo and if those employees between them cannot come up with a new IP, then I'd be very worried because Nintendo shouldn't be relying on one man to create their IP's.