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There`s no point in trying to compare GC to Wii U in terms of franchises.
GC could have the best Mario, the best Zelda, the best Mario Kart and it still wouldn`t make a difference. As didn`t for MS in regards to Halo.

How could you compete when you arrived late to the market to compete with the successor of PS1, a machine that everyone wanted, that had all kinds of games and also played DVDs (was cheaper at that too)? And in Nintendo`s case, it already had lost badly to PS1 because the big franchises simply weren`t there or arrived too late. Not to mention it`s kiddie fame.

What happened in that generation isn`t going to repeat itself.
Wii U might have started on the wrong foot, but that`s something that can be adressed with time. 2 and half bad months and people are already calling it dead. PS3 didn`t start well and look where it is now.

The Wii brought something good and something bad to Wii U.
The good is that it exposed it`s franchises to a very wide audience and people liked it.
The bad is that because AAA 3rd party games weren`t there and Nintendo basically didn`t support Wii for almost two years - very few exceptions aside -, Wii U is also suffering from that. And that takes time to change, to assure gamers that they can find what they are looking for on Wii U aswell. Now and in the future.