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As much as I dislike saying so, currently, he's right.

3DS is doing well in Japan but that's about all I can give Nintendo at the moment. Outside of Japan 3DS sales are soft and WiiU's are atrocious. They are not making money off the hardware, and without strong hardware sales, that negatively impacts software sales. Poor 3rd party support also means less profit.

Iwata was all aces with DS/Wii but now Nintendo has royally screwed up with 3DS/WiiU and that also must be credited to Iwata. I don't forsee either system becoming a big success (3DS will obviously do better than WiiU and will be 'successful' but not to GB/DS levels).

I think Nintendo's IP's are strong enough to support it's own hardware but not at the price points of old. In the days of Real Racing 3 (freedium iOS/Android), Mario Kart seems vastly overpriced at $60. If Nintendo releases an Android based Nintendo system and Nintendo digital games are priced accordingly - $5-$20 (Retail $30-$50) they'll sell in huge numbers.