Nintendo can use false matches to destroy people that make original videos without Nintendo images, sounds, etc., by funneling the revenue to them.
They could, but that would be silly. Nintendo sells video games. Why would they spend time and money trying to steal (less) money from indie movie makers? If they were going to muscle people out of a market, they go after indie games. Your idea is a conspiracy theory at best.
I'll admit they look English. They're marketer doublespeak, but they do look like grammatically correct English.
It's not doublespeak and it's rather awkward English. They very clearly a) stated their desire for people to continue sharing "Nintendo content" (meaning stuff they own), and b) contrasted this with "other entertainment companies". This is not ambiguous.
At best, all this "on-going push" will "ensure" is that people are chilled at the thought of uploading something with a sound or footage that will trip Content-ID and *wham* no revenue. They also haven't said how permanently they "have chosen not to block people using our intellectual property", so people who have uploaded videos, safe in the knowledge that they've "only" been Content-ID'd and neutered by Nintendo, could be awash in copyright strikes one or two golden-parachuted CEOs later.
If you want to make reliable money off of YouTube videos, maybe you should, I don't know, *actually make your own videos* instead of basing them entirely on someone else's work. I'm sure there are plenty of gray areas here, but this is not one of them. A Let's Play is a start-to-finish play through of a video game. It's not taking a few things from a game, it is (by design) taking everything from the game. Call me when Nintendo goes after the Angry Video Game Nerd.
Of course, it's not only the fault of the fine folks who brought us 10NES...
The purpose of the NES lockout chip was to avoid the quality control problems that killed the North American console gaming industry. There's a reason the American NES looks like a VCR.