Master Chief? I thought he was Master CHEF! *ba dum ching!* Anyway, I don't think Spaghetti and Meatballs will be too mad about Mario not being Nintendo's main mascot, because
A) For a business move, it's a pretty good idea. I mean, if you were a self-concious teenager who always acted "cool" in front of his "friends", would you want to buy a system with a cool-looking guy holding some kinda weapon as the mascot, or a system with a chubby, loveable short Italian guy wearing bright clothes and yells whenever you press the jump button? (Personally, I'd go with the Italian guy, but I'm very different from most of my peers.) And,
B) Spaghetti and Meatballs will most likely be the one who creates this new mascot, as he creates almost all of the new characters on Nintendo systems anyway.