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Again, they market both Smash Bros and the other franchise.
And, also again, Metal Gear is irrelevant since Snake was included as a personal favor.
Megami Tensei on the other hand started out on Nintendo and has pretty much always had a presence, though many of them didn't get localized. They even had a crossover game with Fire Emblem. And even if you're focusing in on Persona in particular, they at least have the Persona Q games on 3DS, plus a Switch port of P5 is heavily rumored (but still unconfirmed).
And I think you're the one not looking at the big picture, because again, it's both.
Comparing to Tekken is irrelevant too because Namco isn't a console maker, whereas Nintendo obviously has a bigger business to worry about as well.