Its still sort of amusing how short term and reactionary a lot of GAFfers are, as though the Wii is the only hardware ever developed by Nintendo.
True story: the last time VR was considered a thing in the early 90s, VR researchers went round buying all the Powergloves they could find as a cost effective input mechanism.
You don't need super high end tech to make VR work, and you literally
can't be using bleeding edge tech to hit a mass market price point.
I know at least some GAFfers bought into
Sonys head mounted 3D displays which were overpriced and underwhelming BECAUSE they took the 'bleeding edge' route - then OR showed up with the kind of cheap shitty deprecated low end tablet screens that techheads laugh at, and made a compelling product by thinking about how to intelligently apply that cheap hardware to a dedicated purpose.
Does that sound familiar? Using "withered" technology in new innovative ways?
Is there a games company that has used that as a design philosophy almost since inception?
The software side is not something trivial and neither is the hardware work when the other players have patented all its bits and pieces. Considering all the R&D resources companies like Oculus, Valve, and Sony are pouring into VR, I would say that they have been encountering and solving a lot of hard problems and that Nintendo risks the very real possibility of having to re-do all that homework when they start working on a releasable mass market solution of their own. VR should not be any easier than adapting your tools, engines, and teams to shaders and HD rendering... So are online networks... Strangely the strategy of letting others solve the hard problems and copying their homework first thing in the morning did not turn out as well as they expected

.
Nintendo already have numerous hardware prototypes and patents than can be immediately applied to the field of VR.
I mean honestly; think for a moment about what sort of hardware you need for telepresence / VR.
Stereoscopic displays.
Wireless input and display mechanisms.
Low latency videostreaming from a 'base box'.
Motion controls.
Relative positioning in a 3D space.
Headtracking.
Look at the hardware Nintendo have been producing for years.
Look at how hardware hackers have repurposed nintendo hardware for other uses, like the old dual wiimote headtracking videos.