So what? People that play games don't buy video game consoles?
Yeah, people are coming for the spectacle. Again it's an advertisement, you want as many people to come as you can, for whatever reason. It's actually probably a good thing if people walk away only remembering that the Wii U E3 thing was a spectacle. That's exactly the type of connection between a product and a feeling that you want from an advertisement.
The spectacle only matters to those who watch it. The people you are talking about aren't watching it, but getting second hand info that is still going to be present whether there is a press event or not.
As I said to Blast, I've never seen mainstream comment on anything other than a new primary product announcement, shootings, and sales for those select games that become entertainment blockbusters.
And also as I said earlier, the E3 press conferences never helped in that area for Nintendo before. Instead, it was dedicated demo opportunities that reached those audiences the best.
So no huge sale figures, no new console or makeovers, and Mario isn't accused of being an influence for the Ricin-letter situation.
Where's the headline? It sure as hell isn't Pikmin, Retro, Mario Kart, LoZ, or any software.
They will still have a significant presence as a whole there. Just because they don't have one giant event to posture about over absolutely nothing to that crowd doesn't mean they aren't there at all and are done.
Edit: Blast, other than GameTrailers having dedicated demos and floor coverage, Nintendo has no tv presence. I have never seen news stories about E3 aside from the same blurbs I already mentioned about new consoles. You're right though that it isn't a zero sum game, and I'm overall indifferent towards this. I don't see it as an advantage or a failing at the core. There are points to each end, but nothing really tips the scale.