Indeed. Iwata was a rare combination: business acumen, astonishing proficiency as a craftsman, and humility - to name a few. People in his position are generally "suits": Kaz Hirai, Andrew House, Shawn Layden, Jack Tretton, Hiroshi Yamauchi, Reggie Fils-Aimé, etc.
While unfortunate, it's not a cause for concern. Yamauchi ruled Nintendo throughout the 80s and 90s, and creative output was not diminished in any way.