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Just because the Wii U is reaching new lows for a game drought, doesn't mean the panic button wasn't flipped on for the GameCube back in 2002 -- it definitely was. The message boards were filled with pretty much the same kind of chatter as there is today.

I remember the sinking boat images on Gaming-Age's message board back in 02/03 (lol) with Nintendo written on the ship.

Nintendo finding a way to top that GameCube drought is kind of a feat in and of itself, and that's really their own fault, but the GameCube had far harsher competetion going head to head against the PS2 juggernaut (best selling console of all time, even makes the Wii and original PSX pale in comparision) and the surprising XBox launch with Halo really being a blockbuster hit and catching Nintendo off guard.