Doesnt wii and presumably wiiU already support legacy nintendo games? Been a few years since ive had a wii, but im pretty sure it had a marketplace where you could buy old 8bit games etc. it might even of had 16 bit super nintendo stuff and sega stuff.
Sounds like this may be more like the atari joystick controller with the guts os a 2600 and several games in it that comes out near thr holidays as a office party gift or stocking stuffer.