And, uh, who did they lose again? Yamauchi, the crazy president that destroyed third party ties in the N64 era? Merrick, the guy who was replaced by the all-powerful Reggie? (Not that I think Reggie is quite as great as everyone says, but to me he's done more for the company than Merrick). Ken Lobb - I completely forgot he existed - what does he even do at Microsoft? Don't get me wrong, these were all unfortunate losses but I think Iwata and Reggie have stepped into the spotlight in the absence of these employees and I think if anything they're doing a better job.
I'll miss the tidbits Merrick released every 4-6 weeks for Revolution, but not that much. I wish him good luck.
My personal conspiracy theory is that Merrick was through with Europe, but found that he didn't have much of a place at NOA anymore with Reggie in the spot he traditionally occupied. I don't know if Reggie took over Merrick's exact position, but from a media perspective he did...it used to be Jim Merrick and Perrin Kaplan, now it's Reggie and Perrin Kaplan. They don't need anyone else at NOA.