Not at all. The system needs games and advertising and a price cut late this year or early next year. I dont think it will repeat the success of the Wii but I doubt any system this gen will. Once its first party offerings come out Nintendo fans will buy it. Once they up the marketing other people will buy it (I litwrally havent seen a Wii U commercial since Christmas) and once the price comes down bargain shoppers will pick it up. It may never get the 3rd party support of MS/Sony but it should get some solid excluaive 3rd party games like GC/Wii got. Give it time, I honestly believe things will turn around starting in Aug and Wii U will sell well for 3-4 years.
When the herd loses its way, the shepard must kill the bull that leads them astray.