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The Wii is a fad. And so were pet rocks, Cabbage Patch dolls, hoola hoops, hoppity hops, etc. Here's to those who make a bazillion dollars selling "fad" products.

The challenge for Nintendo is creating the next "fad" after the Wii.

EDIT: Here is the definition of "fad" from dictionary.com:

"a temporary fashion, notion, manner of conduct, etc., esp. one followed enthusiastically by a group."

I guess the question here is, "how long is temporary?"  My guess is that the Wii will remain a fad until Nintendo invents another groundbreaking console.