I sort of liked the Son of a Pitch videos. Maybe more for their spirit than anything really funny from them. I did like when they had Nintendo releated stuff like the Kid Icarus and Kirby anime. I think my hope was always that it would offer more media content. There are a lot of movies made in 3D but there isn't much way to see them that way after they leave the theatre and go to home video. While a 3DS isn't the greatest sized screen, at least it could still display such movies in 3D. They used to show movie trailers on the system but those have disappeared for about a year now also.
In the end, I'm not sure what Nintendo's end goal with this was. A way to make the machine more multi-functional besides just games? Another way to make people use the device everyday? A method to encourage people to keep it in sleep mode for updates? They would try and promote the service but never had much in the way of worthy content for it like 3-diots or something. Remember that? Even the latest Toon Link and Pikmin Safari stuff, for which they sent out an update note promoting, was rather sad. It was just advertising for Wii U games which is fine but not worthwhile to watch in anyway. It wasn't even in 3D since the games aren't 3D.
Basically, I see this and the Wii Wi-Fi shut down as signs of Nintendo's eliminating unnecessary elements and offerings and perhaps stop spending manpower and time in areas that just don't have any major benefit to the company at this time. Sort of some early signs of Nintendo adjusting to the problems from Wii U sales and game delays.