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To be honest, I don't think Sony or Microsoft see themselves as "needing" E3 either. They have big productions, true, but they are mainly held outside of E3 so that fans can be part of it. That, IMO, is the biggest failing of E3: The exclusivity. While it was originally intended as a trade show...

Nintendo has seemingly lost interest in E3 for the past few years, preferring other methods of getting their announcements out. It really doesn't surprise me that they're putting so much emphasis on a specific game. Honestly, E3 itself doesn't feel like the juggernaut of gaming announcements...