This is a very good and lengthy article by Sean Malstrom.
“Centuries ago, men attempted to fly … Birds fly. Birds have wings. Therefore, having wings should mean man will fly. … Had they examined the nature of flight, as opposed to the nature of birds, they would have realized the concept of lift (as Bernoulli did). …”
~ -Analogy of the birdmen to put on feathers rather than study flight was graciously taken from Professor Christensen of Innovator’s Dilemma fame who uses it to describe businesses trying to ride a disruptive wave but do not know it is disruption.
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The fad was not in Nintendo’s strategy but in third parties (incorrect) interpretation of Nintendo’s strategy. Trying to escape their hardcore labyrinth, many are donning waxy casual wings to fly over the vast Blue Ocean. Those wings will melt and many millions will be lost as they plunge into the deep.
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Actually I want to quote everything, so go READ~! Also, hehe at mythology and other references.

It got quite some good points and especially about mentalities and such. A few can be refuted or viewed/concluded differently, I guess.
Also it’s not about Nintendo’s plan/model and etc. only~