Nintendo in particular also has a different culture than the modern explosive shareholder mentality. They have a huge war chest can likely operate at a loss for over a decade, even if their stock crashed to zero tomorrow.
In other words: they have cultural skin in the game. A bad quarter or even year won't have them seeking out private equity funding.
Didn't they almost go broke after the Wii U? I vaguely remember that the Switch was do-or-die for them.
Yep, and it wasn't the first time the company nearly went bankrupt before miraculously recovering.
Yes, and the Wii U would have been 4-5 years of disappointing sales. But they still tried to invest hard into their hardware and software.
In comparison. How do we think Activision or Ubisoft would have reacted to those kinds of shortcomings?