HELL NO ... 'cause the legendary gamer is out in NYC for Epic Games' unprecedented event this weekend despite not being able to play in it -- and he says he's stoked for it!!

"It's gonna be nuts," Ninja says.

If you're unfamiliar, Fortnite is holding its World Cup event this weekend in NYC -- where 100 gamers are going to pack Arthur Ashe Stadium for the chance to win some serious cash.

Ninja -- arguably the greatest Fortnite player who's ever lived -- somehow missed the cut a few weeks ago ... but he ain't exactly hanging his head low about not qualifying.

When we got the 28-year-old out in the city -- he was smiling, laughing and even cracking jokes about how he's making video games sexy again!!!

Of course, Ninja says he makes more than $500,000 PER MONTH for playing the game recreationally ... so it ain't exactly like he's hurting for the dough.

But still, this is like Tiger Woods missing the Masters cut in his prime!!!

It's not all bad for Ninja, he's still playing the Fortnite Celebrity Pro-Am with Marshmello -- the two are defending their title from last year and are heavy favorites to win again!

There's a total of $3 MIL in prize money for the Pro-Am -- which the winners will donate to their charity of choice ... so it's a big deal!

By the way, if you're looking to find a new favorite for the World Cup champion ... 14-year-old Cody "Clix" Conrod is considered one of the tourney's top dogs now with Ninja out.