A sad day for emulation and open source advocates, and a reminder that Nintendo can and will destroy you if they see fit.
Hopefully their works will live in the saved repos just as ReVanced was able to live on after YouTube shut the original project down.
There isn’t a legal precedent. Unless I misunderstood, this is a settlement and settlements aren’t! Legal precedent. Which is why big e.g. pharma likes them, because then they don’t have the legal precedent for the next case.