I think he misjudged the online thing. Online is not going to be a console thing despite M$'s and Sony's hopes and dreams. I believe it will remain strictly a PC thing.
Also, Ninty's relations with Namco who is giving us 2 exclusive RPGs, Square with one exclusive RPG, Konami with an exclusive MGS which hopefully will lead to more games from them, and Capcom who has given us 2 exclusive games thus far. Capcom worries me though because one project has been scrapped (allegedly) and another is no longer exclusive. Hopefully RE4 will be a seller.
I do think that Nintendo has some problems to work out though, mouse. They REALLY need to shoot for that older audience. And I've said it before, this does NOT mean mindless Vice City games. This means QUALITY mature titles like ED and MGS. I would argue that RE is quality, but there are some who would disagree. I don't think that the mature audience is the only problem, but it certainly is a major concern. How Nintendo will chose to fix whatever problems they have is as much a mystery as their next console.