Drain their funds? I hardly think so.

I think they'll learn from their mistakes this gen.

Combine the home console with the handheld so the handheld is just an extension of the console, doubling up as a controller a la the gamepad. No separate software development. Both come in the dame box (extra handhelds only purchasable via the home console nintendo dhop and esch handheld having to link with the home console regularly).

Guess they'll have to do a merger or go 3rd party since they're obviously in such a dire position ( though I think you, spurge, paint a fairly bleak, exaggerated picture of nintendos current state). Maybe they should just give up entirely

Successful is a relative term.

What they need to do is be smart and realize where they are in the market: Nintendo is associated with families and kids under 14 (or less) and third parties give a sh*t about them.

With that in mind, they need to go back and launch consoles that don't cost more than 250 USD/EUR and that are profitable from day one. And if that means that their next console will be only half as powerful as a PS4, then so be it.

Will that make the console the best selling of the gen? Of course not. Will that make them win money and keep going on? Yes.

Another hail mary pass like they did with the Wii. Maybe they'll go into VR technology.

Keep their bottom line above operating costs.

There are some problems that I have with Nintendo:

1) Return to a standard controller and make motion controls optional. I don't care that much about graphics but I have problems with the WiiMote and the tablet controller.
2) Introduce a balanced Trophy system and let every gamer have its very own Nintendo Profile. It is a great fan service to have all Platinum Trophies in one's favourite franchises
3) Concentrate on advertising offline Splitscreen-Mulitplayer modes. Many people prefer to play with friends/family in the same room and Nintendo offers the perfect games for multiplayer modes. Couch-coop is a great way to have fun and it is a shame that these modes are often taken out in favour of online mulitplayer modes.
4) More genre diversity.
5) There are some genres that have died out. New Super Mario Bros Wii showed that certain visuals are still viable although they might seem outdated. 3D Dot Game Heroes on the PS3 was a great example that I still like this eagle eye view from the top... A Link to the Past was simply an amazing game and I was very sorry that Zelda changed to a 3rd person view.

The OP is too dramatic... I like drama though.

As you describe it Nintendo has no chance on the next gen. The only chance for salvation is to go back to toys and cards. They should also start to specialize in sexual toys and start airing a Pokemon hentai.

by not ignoring third party developers for the almost 100%.

They announced and released the Wii U to early, maybe release Wii X at the same time as the PS5 and XBoxMinus720. This would give more time to improve it and have a real race to the champs.