I say yes.
But basically, it all depends on nintendo - if it starts making 2 millions consoles per month soon, and keep expanding the production with time, wii has a fair chance.
Also, it's possible for nintendo to make price cuts when the sales start falling, i'm guessing that in 2-3 years they could cut the price beneath 100$ mark, and due the uniqueness of the controls, many 360 and PS3 owners would buy them for that price as second console.
Also, a smaller and ultra-slim version could be made later (the only problem which i see are the GC controller ports, which could be solved with some sort of external hub) which would futher reduce production costs and probably result in some re-purchasing.

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