I agree and wasn't trying to discourage discussion that views this release differently than I do. I just happen to disagree and felt like writing it up and debating it a bit.
And they weren't selling millions of downloads of Super Mario World for $8 a pop in 1994 when that SMAS+SMW pack-in happened (At least in North America, SMAS+SMW wasn't available as a standalone release and was only bundled with systems). It was much closer to the situation with Wii Sports today where Wii's that include Wii Sports Resort also still include the original Wii Sports. They weren't devaluing anything at the time, most every SuperNes sold had included Super Mario World from the start and it was easily purchased for next to nothing used in 1994. Super Mario World wasn't even available new as a standalone game in 1994. I never saw it as standalone release until briefly in the mid 90's and then a Player's Choice rerelease around 1998.
So sure, they were sweetening a package at the time by including SMW. But the sweetener wasn't something they were already making a killing from since everyone had already been getting SMW with their purchase for no additional cost anyways and they weren't selling it seperately. Using Super Mario 64 when they continue to make a nice bit of change off it through the Virtual Console to sweeten up this release would've been giving away money since they'd be getting it in this $30 compilation and not have to pay $10 to download it. So it's a very different situation than SMAS+SMW was.
Because sales of the retail collection wouldn't be limited to just those that don't take their Wii's online. I've explained already why I think including a very successful download for essentially free (Assuming you'd want this release to stay with the same MSRP for this retail release that it was sold at with just SMAS) doesn't make any business sense. If they were to have increased the MSRP of this collection with SM64 included to match the profit they'd of made off it as a $10 download, then sure, including it makes business sense if they're not going to make less money off it as a result and it's needed to help sell the retail package.
Some of you seem to want to have gotten Mario Brothers (NES version goes for $5 on the VC), Super Mario Brothers (NES version goes for $5 on the VC), Super Mario Brothers 2 (NES version goes for $5 on the VC), Super Mario Brothers 3 (NES version goes for $5 on the VC), Super Mario Brothers 2 Japan (Famicom version goes for $6 on the VC), Super Mario World (SNES version goes for $8 on the VC), Yoshi's Island (I think we can assume it's going to go for at least $8 as a 3DS download, if not more due to the 3d treatment it's recieving), Super Mario 64 (N64 version goes for $10 on the VC), and Super Mario Sunshine (I think we can assume if it were digitally released that it would be approximately $15 like an Xbox Original download), Super Mario Land (Coming to the 3DS version of the Virtual Console, for I assume $5), and Super Mario Land 2 (Coming to the 3DS version of the Virtual Console, for I assume $5), all for the $30 this Wii compilation sold for.
That's nearly $80 in downloads there with Nintendo's only cost involved after programming the necessary emulators, a few hours of employee time to QA each download and create a virtual manual and the ESRB reviews fees being the cost to host those files. Asking for all that for just $30 and Nintendo has to pay to manufacture everything doesn't require a MBA to see why it makes absolutely no business sense here. Super Mario All-Stars had to be done in a way that protects the value of these downloads since they're worth far more individually than they would be compiled together, not giving them away for far less then they're worth.