Splatoon and Ring Fit are pretty off the wall. Arms and Labo too (though they weren't exactly screaming successes). BotW and TotK were significant departures for their series, as was Mario Wonder to a lesser degree.
But if you look at their output next to everyone else's that's where you really see the risk. Nintendo games are pretty distinct in the AAA space, visually and otherwise. Sure, it works for them, and they have a dedicated
audience, but an established brand IP and nostalgia aren't a guarantee of success (just ask Sonic and, lately, Master Chief). They had to take some pretty large leaps of faith to get to where they are, and, while you're guaranteed to see certain IP every gen, they do keep innovating on those in large and small ways.
For better and for worse, they march to the beat of their own drum. It's what makes them so fun to watch in an industry that is gradually descending into homogeny.
Sounds like the Xbox 360 story, on a much smaller scale, or the Xbox One story in reverse. Alas for MS, those happened at the beginning of a generation when it mattered.