No, it is not getting any respect from the gaming industry. In fact, the behavior of the industry towards the wii is downright disgusting.
The only saving grace is that the general public gives it the respect it deserves.
And your point 1 was not smart imo. Nintendo is full of innovation. The view that innovation means better graphics is one of the HD consoles biggest problems. They ONLY improve the graphics. But MS is changing that with Natal. But it is my opinion that sony with the wand is not innovating, but merely copying Nintendo.
Your #2 and #3 sound about right though.