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I really hope it will end up selling better than the GameCube when it's all said and done, but right now it doesn't look like it will. So what if the 3DS started selling really well after it had a pricecut and started getting great software. It doesn't mean that the same will happen to the Wii U. The N64 struggled while the GameBoy thrived. The GameCube struggled while the GBA thrived.

Things can obviously change.
Nintendo needs to advertise it a lot more aggressively, and they need to get long-time Nintendo fans back with IPs that appeal to them: Star Fox, F-Zero, Wave Race, Paper Mario, Metroid, Earthbound and some new, impressive ones too.