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Its difficult to say for sure ...

Even though there were lots of problems with the N64's hardware, I would say that the biggest problem was that Nintendo alienated third party publishers; had third parties been on board they would have released their big games on the N64 and the hardware problems wouldn't have been an issue.

The Gamecube seemed to have corrected all of the hardware problems Nintendo had with the N64, and they seemed to have made a (pretty good) effort to repair their damage with third party publishers. The problem Nintendo had with the Gamecube is their first party release list wasn't agressive enough, and the image of the Gamecube was of a low power children's toy which hurt its sales.