After listening to that cast, I think Nintendo has shot itself in the foot, face, the left testicle and right up the arse. Yes, it's a bit of a grey area in places, but the fact of the matter is that lots of the best Let's Plays are the product of genuine passion for the product in display.
I suppose there is an argument for "If people love it so much, they should do it for free", but for regular people, being paid for their passion helps to push production values to a new level.