It's in direct contrast to what the Wii U tries to accomplish
As virtual reality becomes more and more of a, well, reality, traditional videogame companies have taken serious steps to adapting to the trend. For instance, Sony's currently working on its Project Morpheus. Nintendo might be looking at virtual reality too, but Shigeru Miyamoto isn't sure its right for the company.
Speaking with Time, Miyamoto admitted that Nintendo's always looking at market trends and evaluating hardware to try to figure out what's possible. However, he commented "What we’re trying to do with Wii U is to create games for everyone in the living room. It’s intended to be fun not only for the person who’s playing, but also for the people who are watching."
He further expressed his concern by adding "When you think about what virtual reality is, which is one person putting on some goggles and playing by themselves kind of over in a corner, or maybe they go into a separate room and they spend all their time alone playing in that virtual reality, that’s in direct contrast with what it is we’re trying to achieve with Wii U. And so I have a little bit of uneasiness with whether or not that’s the best way for people to play."
Miyamoto has a fine point. For a while now, Nintendo's focused on social games, or at least games that other people might want to watch. If Nintendo ends up sitting this one out, we know why.