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I hardly think so. The Xbox One is getting a lot of bashing, but it's coming from a 77 million install base. The Xbox appeared with a 0 install base.
It might take some time for Microsoft to catch up, but in the end, I think we're about to see a pretty balanced generation.

Although the Wii U does have the potential of becoming the next GameCube, I'm calling it a big question mark right now. You never know.