Or it just means Nintendo isn't going to rely on video games for growth.

The idea of paying anything for video games is already going away, with free to play games doing well in the youth market. And while the Switch is their best selling console, it is effectively a tablet with Bluetooth controllers and standard hardware. I don't see Nintendo being able to maintain selling hardware after this next generation.

But Nintendo has a lot of IP that it hasn't really tapped outside of video games. I expect that to change.

No, as that's fully against their philosophy. They ship complete games, on time, with limited if any bugs and with no microtransactions and large DLC expansions for most games.

He is clearly talking about their expansion into film, theme parks and other entertainment avenues other than games consoles or anything really done prior (Pokémon movies are TPC, rather than Nintendo).

Honestly I think Nintendo are killing it in 2023. I loved TotK and Pikmin 4, and have high hopes for Mario Wonder and the SMRPG remake. Yeah the switch is aging out, but it's no big secret that a Switch 2 is deep in development and probably coming next year.

Every game store is filled with trash though.

I have not owned a console in a decade or so, i only play on PC. I bought a switch for my nephew to play around when he visits. I literally only ever held a switch once and i didn't really know what to expect. I like a lot of the hardware part. Like controllers are super easy to pair, they even show up in the right colour, i like how you can use them in different ways. Docking and undocking, handheld mode, all very cool. But oh my, the eshop is a nightmare. The nintendo account thing took me a while until it worked for unknown reasons. What i absolutely despise tho is that i bought mario kart and i paid full price for that game that came out in 2014. It had dlc tracks (that was expected i guess) and they just show up as normal tracks with a slightly different symbol. These assholes know exactly what they are doing. Kids keep pressing these tracks until the parents spend 25 or so more bucks for some more tracks on a game from 2014 that still costs full price.
I assume they do that with smash as well an all of these games. I loved nintendo when i grew up, like a lot. But now i really just regret that i gave them money.