The idea is valid. Nintendo is heading into financial trouble just by having Miyamoto in charge, and if he (and the all the like minded people in the Nintendo board) does not want Mario on iPhone, investors won’t get their demand. This naturally will lead into the loss of investors, and Nintendo’s stock will plunge.
Nintendo is slowly getting into deep shit. PlayStation 3 and 360 won’t get the crowd who bought the Wii. People didn’t buy Wii because it had the motion controls; the motion controls have no part in the popularity. Wii offered arcade quality games at a low price and that worked. The 360 and PS3 offered, and still do, HD games with HD graphics with dumbed down PC games. Neither HD console offer arcady games from the get-go, you have to connect your console to the ‘net. Personally, I’m not too keen to use the ‘net via my gaming consoles for any reason. Game consoles aren’t PCs, even if both Microsoft and Sony wants the general populace believe different.
Nintendo has abandoned it’s customers, contests in the Red Ocean, has abandoned the arcade roots that made them big and deny all mistakes. They’re not making money as it is, and now Nintendo is pressured to make money the last way before selling their franchises out; going multiplatform. Nintendo hasn’t been multiplatform since the Famicom days, and if they now go, Nintendo will be treated as the second Sega; old, tired and full of failures. The thing is, Nintendo really starts look like it, and nobody really likes it.