Ian... this was the best launch this generation. By a lot. And I'd say the only launch last generation that can compare was the XBox's, unless you count Dreamcast. And the generation before? I'd say that Nintendo was the only one to launch with any games that made the system worth buying.
Stop complaining so much and take a second and look at the competition. Look at how other companies act. It's not arrogance, it's the pressures of getting a system out at a time when it will still be competitive. Of course there won't be 5 amazing games at launch. That does not happen. And I think your dismissal of Ubi Soft is a little... stupid. Unlike EA, they have a history of releasing games exclusively for individual systems, at least initially, and they've done so on the Wii. Furthermore, big Japanese publishers ARE developing games for the Wii, which they were NOT doing for the GameCube, especially at this point in the game. The few that did make games for the cube were more or less bought - see Capcom making Zelda games and Square making Mario Sports games.
And frankly, porting games to the VC isn't an instantaneous process - see the YEARS it took people to concoct emulators for PC. While of course it's easier with the original code and additional system specs, it's not like Nintendo snaps their fingers and the games appear. In addition, I found the prices quite reasonable, and was quite happy to spend 5 dollars to pick up the original Legend of Zelda, which I'd never gotten to play to that point in time. If it seems too steep for you, by all means, don't buy it!
In conclusion, you're wrong.