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Well this is a good question...

Four things that may have happened:

1) Less first party titles, I mean a good Wii title takes 1.5 perhaps 2 years to develop, but a HD good title needs 2.5 perhaps 3 years of development.

2) Less PS360's consoles sold, Wii HD could have had better third party support so some of Wii owners that wanted to play games like assassins creed wouldn't had to buy a PC or HD console.

3) Some small budget projects like No More Heroes and Mad World would never have happened.

4) Less Wii's sold because Wii price tag was one of the most important things of its bussines model.