Im also looking for a way to load my game backups over a NAS instead of slapping a dedicated external hdd on it.
since my NAS have something like 60TB of usable storage, why not dedicate a 2TB of iSCSI access to Wii U, but I need a way to make that iSCSI mount to work on wii.
but hey, raspberry pi zero w have this thing called OTG, and since linux also have this thing called usb_gadget, so why not combine those two things and see if it works.
so what I did is use a fastest read speed uSD card that I have for minimal boot time. All I need to do is basically follow this instruction to
convert the pi zero w into a USB Drive that relies on NAS with iSCSI and make the SD card read only after I configured it.
after that, I test the thing if it works, plugged it on my PC, wait about 15seconds and whoala, Windows thinks I plugged in a external hdd, though I still need to initialized the drive using Disk Management, and format the drive using other formatting tool to fat32. after that, I tried adding games to it, the transfer rate is really slow though, around 5-7MB/sec. plugged it to a wii u, run Configurable USB loader, and bam, the game appears on the list, run the game and it works! The load speed is just a little bit slower compared to a actual hdd (because wifi) but hey once the game loaded the game is smooth.
I also have raspberry pi 4 and tested the same thing but this time connected to a Wired ethernet cable at 1gbit connection. and the load times is comparable with USB HDD. I ended up switching to pi zero because, there are hats out there that basically add a USB A male on it making it look like a flash drive albeit a bit bigger.
the total cost for me to do this is around 30USD with Pi zero w and the hat with USB A Male on it, uSD card is something I already have so maybe add another 5-10USD for the total price if you dont have one.