Satoru Iwata has been explaining the concept behind the Virtual Console and Nintendo's alternative to the "single-minded approach of the industry at present".
Whilst the Virtual Console acts as an instant library for all classic Nintendo titles, it's also a brand new platform for new content. He explained how small developers or even individuals could afford to develop a new game for a very small cost and still make a profit.
"When creating a [retail] packaged game to be priced at 5,000 yen, developers tend to feel the need to create a rich game," he explained. "Yet it is possible to create a reasonably entertaining game in 2 months with a team of three. Offering such games for 500 yen over a network could lead to a reasonable number of people purchasing it. By offering an environment that allows this, we hope to encourage more developers to pursue basic yet enjoyable gameplay."
That puts the new content at around the £2.50 mark, which is more than reasonable for a small game. However, of course Nintendo is dedicated to creating "epic" titles for its dedicated fanbase, but might dip into small games, or even mini games on occasion.
"Content-rich games have their own merit, and I have no intention of discrediting them," he continued. "Such games are important in their own right, and will continue to be in demand. Still - think about it - eating French cuisine or a full dinner each day would quickly lead to boredom, wouldn't it? You'll want a simple bowl of rice and soup every now and then."
The potential of the Virtual Console is huge. But this relies on Nintendo to really open up the Virtual Console platform to the masses, allowing even homebrew games. With this we could see a complete revolution of young games creators. I'm sure alot of older readers will remember trying to make their own games on Amiga's and Spectrum's.