Nintendo bows out of next-gen console stuff

Maybe they feel its just not worth it to slug it out with MS/Sony at the same time. If those two release around the same time it will be like two giant Battleships duking it out, and it could be better to wait maybe one year. People can say well if they wait it will be like last gen, but can it be any better it if all three are released within a few months with hundreds of millions in ads being shoved in everyones face?