Lol people, Nintendo did absolutely the right thing letting Rare go. The age of googly-eyed character and British puns was over. Nintendo looked kiddy enough without Rare's usual output, and no, Conker wasn't mature, it was a juvenile game with edgy teen humor predating stuff like Bulletstorm by years. Nintendo made their fortunes, they couldn't make Nintendo's fortune any more. Read up on Rare's history, if they did DKC is because they were one of the few devs being able to afford the tech back then. Rare's head honchos were as rich as you could get with game development at the time.
Thinking back to the announcement, I remember the MS's guy smug face (was it Ed Fries?) like they had bought the biggest property in gaming. See how they used it since then, lol. Rare's output in the last 20 years has been decent enough, sure, but it's obvious MS didn't know what to do with them past the initial "let's get some previously Nintendo-only games on our system" streak. Rare used to make that many games in the span of a single generation, not 4 gens. Buying talent isn't enough if you can't put it to good use.
Anyway, Rare's shtick on Nintendo systems was at odds with MS's vision of gaming, at least when the acquisition happened. When one of the first things you get to release is a Conker remake, it's pretty clear what's expected of you. (so double LOL at the game being censored... stupidest idea ever.)
Think about the acquisitions that happened recently and the speculation about who should buy whom, and tell me if Rare was a fitting choice for MS. Today, every single one of you would laugh their ass off at the very idea.
In the end, the world of gaming was changing and Rare wasn't what it used to be even 3 years prior. Nintendo made the right move at the right time. MS had to keep Rare to save face after making the whole thing look like they'd bought Nintendo itself, but Rare have been at best a AA studio for 20 years. Had they stayed with Nintendo, they could have had more space, but Nintendo had to outgrow the typical Rare output to step into the modern gaming world.