This is going to sound ridiculous at first, but let me know what you think.
I've been staring at this picture for a little while:

The Fat Princess looks a lot like princess Peach, except 20+ years older. Fat over the success of many games she was part of over the years. The Blue guys(Wii theme is blue) protects and feeds her to try and to keep Peach fat and hard to move. The want to keep her grounded so the non-games can reign supreme.
The hardcore nintendo fans(dressed in appropriate RED) and relentless attack the new nintendo regime to get their fair princess, their gaming, back from this new oppression.
And you play this epic battle out.........
on PS3.
spoiler (click to show/hide)
Sorry
