No because first party studios put so much money into their games in order to push systems. I've read that Sony makes almost no money on Gran Turismo and same with Microsoft and Forza because the cost of production is so high, but they gain a profit by pushing consoles, which in turn, get people to buy other games (which console manufacterers get royalties from).
Nintendo is the same, except some of their games sell so damn much, they probably make a huge profit too. Still games like XenoBlade and Metroid Prime don't sell that well. If Nintendo stopped making consoles, we would stop seeing games like that, and those are the games which make Nintendo amazing.....so No.
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