It’s not the first time Valve are doing something similar without any action from Nintendo. Nintendo is notorious for its lawsuits and Valve is not taking any chances. Earlier they took down Dolphin emulator from Steam, because they were worried they’d get sued by Nintendo, despite Nintendo hasn’t contacted Valve on that topic in the first place. While it seems wrong, it might have saved Dolphin team from any troubles with Nintendo legal team beforehand, since they were shipping Nintendo’s encryption keys with the emulator.