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I think there's a few easier explanations for why Wii sales are down than the ones in the OP.

1.) Market saturation. Most people who have an interest in the Wii have one at this point.

2.) No real system-sellers in a while. Granted, some great and strong-selling games have been released in the past few months, but nothing on the same level as Wii Fit or Mario Kart Wii.

3.) The 3DS is right around the corner. This means that a lot of developmental focus and hype is getting directed away from the Wii and towards the new system.

4.) The Wii is four years old and runs on dated hardware. It makes sense for its momentum to be on the decline.