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Still seems arrogant. Did they make some really successful games for the N64? Undoubtedly. Would Nintendo have gone under without them? No way.
How many stories have we seen about how much money Nintendo is sitting on? About how long they could live off of that money, bleeding millions per year? And then they still have IPs out the butt they can sell.
The PS1 already overthrew the N64, with or without Rare games. Nintendo wouldn't have just folded without Rare--they sold Rare and released a new console at about the same time, lol.
Out of the top ten best selling games, four are Rare-made. Out of the top 45, 7 are. In the top 45 it would account for ~28 million sales which is definitely not nothing, but wouldn't make or break the company. Mario 64, Mario Kart 64 and Ocarina of Time account for over 29 million alone.