Personally I think it shouldn't have happened, but that Nintendo is totally within their right and are reacting to the way youtube has evolved. People buy a game and then use the visuals, gameplay, and other aspects of the game that are owned by Nintendo to promote themselves and make money without anything actually being given to Nintendo in return. Think of it this way, Rifftrax don't sell a DvD of the movie with them commenting over it, they sell an audio sample you start at a specific time and syncs up with the movie. The audio of them riffing on the movie is totally their own content and plays off of the film which does not belong to them, but they aren't making any money selling the actual film.
A lot of youtubers take someone else's content and make money off of it, perhaps if they were doing it well enough Nintendo wouldn't have cared but think about it.
They search for a bunch of Let's Plays about their games and find, people just talking about their daily lives, friends, ****, anything but the game whenever they can. A game intended for children might have someone talking about having sex with animals, there might be a face in the corner of someone else slapped over their game, tons of annotations advertising other videos and the youtuber basically trying to use the game as a platform to sell themself.
For the longest time Nintendo didn't care, back in the day people promoted the games. They would talk about Nintendo, the developer that made the game Nintendo published, while also providing commentary about the actual game itself. They'd make the game seem very enjoyable and something you'd want to play, the person making the video could then also make money. It's advertising pure and simple.
Advertise my game, more people buy my game, you make money advertising my game, win win.
These days people don't care as much about the game and instead focus entirely on the person playing.
"Oh a new Pewdiepie video, I want to laugh at his faces and hear him scream!"
Not, "Oh a new Game _____ video, I wanted to know more about this game!"
There are cases where companies have benefited from Let's Plays, Minecraft is a prime example and Notch acknowledges is, that is a case of a game going absolutely viral. However even he is turned off by some such as Machinima, whom which have asked him to pay them to make videos of them playing his game. Videos they would already get ad revenue off of making, essentially it seems like the Let's Players of youtubers have gotten greedy.
However at the same time it seems like Nintendo is looking to actually hire Let's Players to play through their games and talk about them. I'm a bit iffy on this, it may become corporation **** sucking or people who are passionate about a game and spend a ton of work going over detail getting paid for pointing out the good parts of the game while also analyzing the negative aspects, this may be good or bad it's too early to know.
So, what does everyone think about this whole Nintendo Debacle?