Eh, as much as I'm in the same place as you (Pokémon fan since Red & Blue, wanting to see more console titles) I don't really care. It's just a cheap way to cash in on the name Pikachu, and we know all companies of that scale does **** like that. It's not really a waste of development time, considering they can't spend it much elsewhere, they can't have thousands of people work on Pokémon Z/X2/Y2/whatever, and if they aren't planning a console title, then it's not wasted development time considering they don't even plan to do it. I don't really enjoy many spin-offs either, in fact, the only spin-off series I enjoy is the Mystery Dungeon one until they ****ed it up at Gates of Infinity, but these Pikachu ones just reek of badness, because they're really just made to steal little Jimmy's mom's money. All companies of such a scale would do this, it's common business.
Actually, come to think of it, I don't really see the point in making another Colosseum/BR since the handheld games are 3D now. That was the cool thing about those games, seeing your Pokémon in a new dimension. That's kind of gone now, and what appeal would they have now? Give us some better graphics? That's not going to sell me a game alone.