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Soundwave said:

(..)

N64 had ground shattering Mario and Zelda games and an extremely popular version of Mario Kart to boot as well as some huge hits from Rare, most notably GoldenEye, which was a monster blockbuster and it still only got Nintendo to 33 million or so.

Is Nintendo going to make a Mario anytime before 2015 that has the impact of Mario 64? Do they have something equivalent to GoldenEye? Or even Perfect Dark? Is the next Zelda going to be more popular than Ocarina of Time?

This is of course true, but not coincidentally those games were also the best selling ones in each of their franchises. With the exception of Mario Kart, but that seems to follow a stricked 1/3 attach-ratio no matter the install-base. So good games did definitely help the N64. I think the problem was, that the system didn't have enough games. Not nearly and especially compared to the PS1. If you look at the attach-ratio of the N64, it's barely over 6 and the total amount of games is also quite low. It just didn't have much else.

Strangely though, that last sentence doesn't apply to me personally, since by far and wide I have the most games on N64 of all of my consoles .