Reasonable in that it protects Nintendo's interests, and is likely the only way they got that sort of feature OK'd with the major 3rd party developers. Would you drop 100 million to develop a game for WiiU, only to have its little bits potentially easily accessible from a connected peripheral? In such a piracy crazy environment, no big studio would greenlight such a thing.
What are you talking about?
A hard drive connected to the wii does not access the wii at all, not with a partition table and not without.
And when the harddrive is connected to a device that device can access all data stored on the drive, with or without a partition table.
The only difference is that with a partition table its easier to store other data too.
There actually is way to emulate having multiple partitions.
(My examples use linux since thats what I use but I see no reason why other OS should not be able to do the same with different commands)
Many drives can be set up to appear shorter (Host Protected Area - HPA - see "hdparm -N").
It can be set up to last untill changed again (aka permanent) or till the drive is powered down (volatile).
Before formating you set the permanent visible size to whatever you want to use for the WiiU.
Most filesystems store how big they are. This means you can undo the change once the format is done without the WiiU accessing beyond that range. (Should the WiiUFS not store its size you leave the permanent setting to its WiiU value and instead change the volatile one every time.)
Then you set up the filesystem driver to read only after that point (see "mount -o offset"). (or set up a loop device manually before mounting)
Main disadvantage is that you can't access it from a different device without telling it the specific offset to use first. Which means the drive isn't very portable and you might run into trouble on devices where you don't have full access to its internals.
Changing Wii programs to use a user specified offset shouldn't be hard.
It would even be possible to store the offset in a specific place (eg somewhere at the end of the drive) from where the programs can read it automatically.
That after all is the only thing a partiton table actually is, even if most types stores some aditional information too.