Just a combination of my posts in the last thread, but tidied up a bit more:
I think only doing a stream event is a bad thing for getting news out to potential consumers. I imagine a large majority of the viewers are going to be Nintendo fans, gaming journalists, and the most hardcore gamers due to the fact it's separated onto it's own corner of the internet (Ustream/YouTube/Twitch) while everything else is on the usual popular E3 streaming sites like IGN, GT, and GS and on TV. People who normally watch E3 aren't going to change from site to site once they've found a good stream.
Now while those sites last year listed the link to the stream in separate blog posts, they weren't played in the E3 live streams and probably weren't on their E3 schedules. They instead held round table discussions and game demos during the Nintendo stream. It's not like I can blame the gaming sites either. Their players get them ad revenue and embedding someone else's player into an already designed E3 layout is a great way to fuck it up. In a period of heavy traffic there's literally very little positives for them. They could very easily schedule in a live demo for a game and actually make ad revenue from their video player, while having everything look and work perfectly. Nintendo is basically giving IGN, GT, and GS reasons to not give them coverage during their E3 stream.
Most of the people on those sites wouldn't have known that a Nintendo stream was even happening unless they learned about it prior on gaming sites (the same ones currently misreporting Nintendo skipping E3). Just anecdotal, but my irl friends who play games (mostly Xbox and PS) thought Nintendo skipped E3 entirely. These are people who took off work to watch E3 together ffs. I can easily see how people who aren't invested in Nintendo hardware or games might not know Nintendo even had plans for E3 last year.
Personally as someone who enjoys Nintendo games, I don't really care how I get the information. I'll still get to have tons of fun when the games come out and hear the same news. But as a fan of Nintendo who wants them to stay relevant in the industry, I hope this year Nintendo realizes their mistakes of last year and lets IGN, GS, GT, etc stream the E3 presentation from their players. Because as it is, only the people currently interested in the Wii U (or those who purposely seek out the separate stream) will be seeing the Nintendo's E3 presentation. It'll essentially be them preaching to the choir.