Probably because the Wii can't graphically display what the PS3 and 360 can display.
Nintendo is known for being a family oriented business, so Rockstar have some reservations about making an M rated game for the Wii.
Rockstar is already complaining about the storage capacity of the DVD-9, but at least with MS, there was a possibility that Rockstar could convince MS to let them make it on HD-DVD, but with the Wii optical disk, Rockstar knows that it's stuck with 8.5 gb per disk. Rockstar pretty much knows that if they made it for the Wii, it's going to be on multiple disks. More disks, less profit.
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