Your OP is a bit late to the party. Nintendo has panicked/needed to for awhile now. 

And not necessarily because Sony is doing so good.

This is true, alarm bells were ringing before the PS4 launched, this is more about what Nintendo have done wrong than it is about what Sony is doing right. I think both Nintendo and their fans have started to accept that the Wii U is not the new Wii in spirit, only in name, and that's fine. Hardware sales won't diminish the quality of the 1st party anyway.

Besides; these weekly numbers aren't going to keep up throughout Q2 and Q3, then again, the Wii U will also drop so the ratio might not improve or perhaps even worsen as the year unfolds. During the holidays though, this ratio should be less skewed.

Wii u is not nintendo last chance but the ps4 is sony last chance

Yes NIntendo are panicking. Really though, consumers have shown their apathy and Nintendo just have to keep releasing games and keep dropping the price of the console. They need better marketing too. When the console starts selling in decent numbers then the console price will stabilise.

It's like anything if you make 50,000 of a ugly toaster or car or another product that consumers aren't too keen on you have to keep dropping the price until people start buying it if you have lots of stock of the product. Ultimately if it doesn't sell you are not motivated to commit funds to manufacture more stock which you will sell at a loss.

I can think of lots of ideas to re-vitalise the wii u but they all involve re-designing the gamepad and to a lesser extent the main console but none of this is possible until they sell the existing inventory which is likely to last well into 2014. My guess is there will be a new wii u sku for christmas.

Last chance to do what?

To avoid bankruptcy

Just wait till they release them Cranky Kong, then them sales will skyrocket.

Exactly. Not too mention that it's quite obvious that Nintendo estimated lower than what they most likely will sell in order to have a positive spin for their fiscal year end report. (Shipments at this rate should be close to 6.5 - 7 mill), which would put them ahead of the 2.8 mill projection.

Lol. Of course it's that tired old argument. In the last fiscal year, the sales from the game division accounted for less than 10% of all the sales Sony made that year, how is the PS4 supposed to save Sony from "bankruptcy" (btw people have been saying Sony is on the brink of bankruptcy for over 5 years now) if its division is so small compared to the whole company?

Im not sure if u have noticed but Wii U is up YoY for the last 3 weeks.

Jan 12, 2013-48,387 vs Jan 11, 2014-58,818

Jan 19, 2013-37,057 vs Jan 18, 2014-47,379

Jan 26, 2013-33,249 vs Jan 25, 2014-42,318

2013 total-118,693 vs 2014 total-148,515

Sales are still rather mediocre but I dont know why u would panic while showing improvement and having more competition. Also Donkey Kong, Mario Kart and Smash Bros alone are enough to ensure YoY growth continues.