I don't think so. Name recognition is the single most important aspect of branding/marketing. Monolith is basically Nintendo's bitch, so they don't have much say in what comes next.
And brand recognition is kinda Nintendo's whole thing. There's more Mario games than there are Javan Rhino's left on earth (230 vs 70). There's no way in hell Nintendo will let them do anything but Xenoblade. I bet Monolith would love to do what FromSoft does, but they're forever stuck in Koopa-Hell.