Just to play devil's advocate for a moment, isn't this game the very definition of a "3D Classic", one that should be sold for $15-20 on the eShop?
Yes some work was put into this remake, but it's an N64 game and available on the Wii VC for $10.
Online play and extra levels make this a $40 game, that's what a real modern 'remake' is, remaking it with modern features. (3D is a given, motion controls and video chat are unnecessary)
Just sprucing up the game makes it feel like a downloadable title for me.
If you disagree with me, would you rebuy any other N64 games for $40 if it got the same barebones treatment? Mario 64?