I think it’s a relatively wise strategy. The amount of money mobile games makes is likely huge when compared to the budget of the games. While console games also makes a ton of money, I’d say it takes way more effort and money to develop and game capable of doing so.
Keeping a presence in the mobile market funnels money to help with traditional game development. It’s not a system of one destroying the other, but of coexisting to create a safer business model.