I think this only applies if you're wanting to get 100% of the ad revenue stream. If you don't have a dedicated Nintendo stream, you are still free to post Nintendo videos, but Nintendo will flag them, which equates to them taking a 40% cut of that ad revenue.
I'm not 100% certain of this, but this is how it's been explained to me. I think this Angry Joe guys issue was that Nintendo wasn't letting him have the entire ad revenue stream, like most other companies do with these types of videos. That's why he says in the original tweet, "enjoy the ad money" or something like that.
Now, I understand having issues with that policy, since most companies do not do anything similar. The thing is, though, this has been a known policy for months. As an (apparent) well known YouTuber, it's very unlikely that he didn't know this. So, I'm assuming this is some type of agenda to put attention on that. Personally, I think it's a rather childish one, but I guess people pay more attention to tantrums than if he'd written a blog discussing why he's against the policy.