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No not exactly^

Microsoft had no backing, it was just them, this was Nintendo, right after the N64 era, so they had some clout (although they pretty much lost quite a bit of it on the public "3rd party" perception, too much shit was outta their hands when it came to the Gamecube because they simply couldnt get a good foothold in the market because of software droughts towards the end of its life, while the PS2 was using the power of exponential growth, I'd like to say the PS2's growth ratio was similar to how a youtube channel grows in subscribers.

Its because the PS2 got that foothold in the market, even though it wasnt doing so hot at the start. The WiiU had the unfortunate problem of an early drought period.

For the WiiU to not flop it cant have any more software droughts, it needs momentum, Iwata and his crew havent played all their cards yet and they seem dead serious on this, Iwata already came out and said he was going to make those who dont support the WiiU regret it, 2014 is going to get nasty,.