No. Not at all.
The PS3 sold at a massive loss because it had some very proprietary, poorly-designed technology via its Cell processor (which was like $200 alone vs. the X360's IBM Power-PC based processor, which was arguably as good throughout the generation).
The 360 sold at a small loss - something like $50-75 USD for the HDD version and maybe $125 for the non-HDD version (which was always the lesser of the two in sales).
I think Sony made some bad decisions in regards to its architecture, which could be argued it was too spec-heavy (which led to cost overruns). But given how everything turned out.. They both did a lot better job than Nintendo did by a country mile.
Nintendo dropped the ball and screwed up the Wii specs, badly. They could have at least put something a bit more powerful in it - even $50 more of tech like more RAM and a better CPU. It would have paid them back in spades, as it would have meant more multi-platform games. Now, the WiiU can never catch up because 3rd parties know what the consumer reaction will be to a last-gen piece of technology once the fad has ran off.
Yes, you can point fingers at X360/PS3, but they aren't nearly at fault as compared to Nintendo. Their online sucked, their media solution was abysmal. Their HDDs couldn't support DLC, or anything that mattered for online content, and their 3rd party relationships were nothing more than casual games and chop-shop ports. That does not spell any sort of success for Nintendo outside of what they did internally with the Wii Sports/Fit,ect titles. Those did great, and helped the system sell in the short term, but eventually its systemic problems were brought out, resulting in a very poor showing late in life, and that's spilled over to the WiiU, which has sold abysmally.
Back from the dead, I'm afraid.