Miyamoto discussed online gaming in a recent interview with CNN Money. He explained to them why he isn't a big fan of online gaming.

In general, there are two important reasons why Miyamoto thinks online gaming isn't the future of gaming:

"You have to ask who's making a profit there. You're going to have the Internet providers making money, maybe the people who make the hardware, but not the people who make the games."

"Nintendo is not actively pursuing the idea of bringing games into an arena where Nintendo can not guarantee the quality of the game" he said. "We want the ideal gaming situation for everyone."

Miyamoto also thinks that online gaming isn't as fun as playing against your friends sitting on the same couch as you are.

Full interview can be found here