These publishers need to fire their marketing departments because the idiots seem to have no problem with okaying a 100 million dollar big name brand game for a developer with a spotty track record (read: real chance of the game turning out to suck and wasting all that investment). Even if they're fairly sure that Winter wouldn't have much market appeal (which wouldn't surprise me, gamers get excited over pre-release nformation easily but buying the result is completely different and Geist wasn't exactly a big seller) they're still failing to make any ground on the Wii while throwing massive risks at the HD consoles.
I think there can be other reasons why Nintendo isn't picking this up: If they did it would be considered a Nintendo game by third parties and sales would prove nothing, Nintendo is pretty much laying low so third parties could accumulate sales and establish a foothold to expand upon but no, they just sit back and waste the opportunity (maybe that's the reason Sega got The Conduit, Nintendo might have wanted to let others take stabs at high profile games like that). Also Nintendo might not want to pick up every random orphaned project, there's bound to be tons of devs shopping around and maybe Nintendo already grabbed what they consider better ones (they did after all take titles like Disaster, Sin & Punishment and Dynamic Slash, I'm not counting Punch Out because that's more like outsourcing). Maybe Nintendo doesn't want to become known as the garbage collector for devs.