You honestly think they had 70 people, for three years straight, working on nothing but Pikmin 3? I don't believe Pikmin 3 had a "typical" marketing campaign either.
Sure. Most games of that scale have 100 people working on them for the full period. Also most games have 50 people in QA alone working on them for 4-5 months prior to ship. The game would also have localization, legal, and brand managers as well as NOE, NOA, and NOJ corporate on it among others, over and above the dev team.
Look, when Nintendo does anything it is going to be expensive. It is a massive corporation and markets and distributes products worldwide. 12 to 15 million for production and marketing would be cheap for them.