The graphics of the PS4 and XboxNext won't be wildly better than the wiiU. What we will see is, higher frame rates, better anti-aliasing, smoother edges, less distortion on texture maps, less screen tearing, and better quality lighting and shadows. But to the average gamer, that is not going to translate to "Wow, that's WAY BETTER than anything I've seen before."
But if you think for a second, that Sony and Microsoft are going to come out for another generation of consoles, and not throw everything they have at it...you'd be sadly mistaken. Both have seen what Nintendo was able to accomplish with non-traditional controls. The tested the water with the Kinect, and the Move. Whatever they have up their sleeve, will be better versions of what they've tried already.
You are right about one thing though. Now that Nintendo has 3rd party support, all platforms will have all games on them, EXCEPT for 1st party titles. While it is true that this is where Nintendo shines, Sony has done an excellent job of creating a stellar 1st party lineup of their own. I'd say it's right up there with Nintendo now. Seeing as Nintendo isn't creating very many new IP, they are just re imagining the existing IP they have had for decades. While Sony on the other hand, are still bringing out new IP such as Beyond and Last of Us, to name two of the most recent.
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