I disagree with the idea that some Nintendo games aren't as complex as other AAA games. Visual splendor and technical complexity aren't the same thing. Remember that a processor has to process everything happening in a game, not just all the pretty graphics, and sometimes that can get pretty complex or difficult, and sometimes in ways you don't expect. Tears of the Kingdom, in particular, is kind of absurd when it comes to the number of physical objects and AI running around that have to interact with each other.
With that set aside, let's focus on several different factors. These have been touched on in this thread already, to some degree, but I'm going to bring them up anyway.
Firstly, they made the hardware that these games are running on. Not only did they make the hardware, they need the games made for that hardware to be in tip-top physical shape. I don't have any inside baseball on Nintendo's inner workings or anything, but I'd bet every dollar I have that the hardware and all of its quirks and issues and any tips and tricks are all documented in excruciating, precise detail. All of that documentation wouldn't mean anywhere near as much if Nintendo didn't have a team, or multiple teams, of people who are there solely as consultants on the hardware for developers. People whose entire job is to help developers figure out how to do something specifically on the Switch's hardware. Third party developers designing for multiple systems are often only trying to sell a game, not a system, and thus they need to get that game out ASAP - they can get a game out, get an initial surge of sales for that sweet, sweet revenue, then fix it as time goes on and get another surge of sales when the game is finally, you know, finished.
Secondly, Nintendo needs these games to sell hardware. Game launches are still big events for Nintendo, so when something finally comes out and people get to play it for the first time, some of those people will want to buy a console with it. Tears of the Kingdom got a special edition console, and I bet a lot of people bought a console when they bought TOTK (or Mario Odyssey, or Fire Emblem, or whatever else). It wouldn't be anywhere near as big an event if Nintendo games didn't work at launch. It's important for them to spend the time and money and energy necessary to make sure this launch is good and not marred by angry internet people spreading the word that their game is a buggy mess.
Thirdly, Nintendo has a reputation. No, really, there's a joke-post above that is just the Nintendo Seal of Quality and that's funny, but also it's one hundred percent true. Despite all odds, despite bucking all trends of growing technology and 4K TVs and 60FPS games and so on and so forth, Nintendo remains one of the most valuable names in the world, and their games are exceptionally well-respected by virtually everyone. There are people out there who will eat up anything, anything, that Nintendo puts out, in pretty much the exact same way that there are people out there who will eat up Studio Ghibli stuff, or Disney's animated stuff, or how any major media group has people who will just stick by it no matter what. There are people who have been buying Nintendo stuff since the 80's and will continue to do so until they die just because it has the name Nintendo on it. Having such a fanbase is incredibly valuable, and likely a major part of the reason why Nintendo has been able to just keep on trucking outside of industry trends, doing whatever they want to do.
Fourthly, that reputation allows Nintendo to have its choice of anyone, anyone, to work for them. If they find someone fresh out of college who is very promising, they can just offer that person a job and almost any one of them would immediately grab the opportunity and hold it like it's a lottery ticket. When you have the best of the best working for you, you can do incredible things seemingly without effort while everyone else struggles to achieve half of what you achieve.
And, finally, finally, the last answer is simply "good project management". Nintendo has been doing this for a long time. They know how to manage their projects. I said above that they probably have absolutely incredible internal documentation of their hardware, their tools, their resources, etc. - they almost certainly have equivalent documentation for how to manage a years-long project involving dozens or hundreds of people, like Tears of the Kingdom or Mario Odyssey.
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None of this means that Nintendo cannot fail, by the way. That 3D Pokemon game on the Switch was regularly the butt of jokes all over the internet for a long time. It might still be, in certain corners. They've always had recent failures, and not just commercial failures but also critical ones, and ones where their fanbase has been collectively disappointed and angry. Still, most of the time, you can buy a game from them and get a high quality, finished product that doesn't need months or years worth of updates to work like you expected it to at launch.
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