I actually see this step as a good buisness idea.
Miyamoto stated that these redesigned GC games will have a significantly reduced development cost, which is why I believe they will be budget titles. Now I know most of us in these forums already have "these games" and might have no intentions of re-buying them, but imagine those that skipped the GC in favour of PS2, but now they deciede for the Wii instead of the of the expensive PS3, they will go to a video-game store and look at a good amount of AAA budget titles and I think their first idea is "wow, look at these great cheap Wii games, I think I'm buying a couple since they are so cheap, let me ask the clerk how good these games are...blah blah blah" = $$$$$$$ for Nintendo.
What was one of the main reasons Sony sold so many PS2s? budget titles.
Do you see the connection now?!
I know it that, in our Nintendo-hardcore-eyes, we see it as just a plain cheap way for Nintendo to rake in $, so we have to remember that above all else Nintendo is in it just for the business even if we don't agree with it.
One final word, if you are going to b!tch about this while you plan to get some VC action...well I think I made my point clear without saying much else.
Edit: damn MSN chatting and interrupting my posting, and then I read what Uncle Bob posts and I just go "arghhhh, damn you UncleBob!!!".