Because they haven't appealed to the common hardcore gamer? That's history though, we're talking about NOW where Wii U is producing better FPT than their opponents even with declining sales.
Tells you a lot about Sony and Microsoft are doing with that money, hmm?
Some of the best shows ever to grace TV never found a stable audience and ultimately got canceled. Finding an appeal is just as important as producing quality. Nintendo has burned so many bridges during the last few decades all they have left is their dwindling dedicated fanbase that gets smaller and smaller with each console. They can't really get any relevant third party content anymore and the mainstream gamer completely ignores them. The biggest third party titles in gaming aren't on Nintendo's home console. They can't even get annual sports iterations and annual games like Assassin's Creed / Call of Duty anymore.
Has Nintendo prioritized profitability above all else during their decline and remained profitable as the sky falls on them? Yeah. So Nintendo continues to make money but as some point as that base dwindles you have to question how profitable will what will amount to a small niche will be.
I find it pathetic that Nintendo has reached the irrelevancy levels that they can put out some of their best work against mostly mediocre showings from Sony and Microsoft this gen and Nintendo still can't garner an audience for the Wii U. They've effectively given up on the Wii U which hasn't even reached it's third year. If you saw their last Direct it was mostly dedicated to the 3DS.
I would love nothing more than for Nintendo to choose either Microsoft or Sony and partner with them. Let their partner put out the home console and they put out the portable. Both companies create first party games for both platforms. It should really be Sony as it was gonna be originally. We don't need Nintendo home consoles. They suck at making hardware and have for several generations now. What people call innovation from them is nothing more than gimmicks at this point of which either their consoles live or die on.