A decent portion of what fans they have left seem to enjoy their output. But considering the WiiU is their worst selling system, it's unsurprising that only die-hard Nintendo fans are still invested, and that they'd be happy with most of the company's output. But it's also undeniable that word of mouth surrounding the company has gotten worse, and critical/public reaction seems to indicate that they are out of touch with the gaming public at large. If they want to be successful, they need more than just their diehard fanbase, which seems to be shrinking.
Or, maybe, just maybe, the quality of the company's output has decreased. Due to a lack of third party support they've been forced to prop up two systems all by themselves, and that means spinoffs and lesser quality titles. We still get gems like Splatoon here and there, but for many of their franchises the recent entries haven't been the greatest ones. I love most of their games, but even I think that their output has become a bit rote and lacking of focus lately.
EA have had a poor showing for several years in a row now and they just show their stuff in MS/Sony conferences now. Activision have always done so. Sega is not really relevant as a company these days. Bethesda have started doing a conference in E3 now. The "year of dreams" conference by Sony last year had huge reverberations in the general gaming public. It was all over the news. E3 still has pull. It's just that Nintendo doesn't. Honestly, I've only seen Nintendo fans tout this "E3 is irrelevant now" rhetoric and it seems it's to justify Nintendo's detachment from E3.
