I think this is a pretty interesting point. I think it could be possible for the handheld to bump out the console, but only if Nintendo let it, which it won't. Despite the 3DS being able to run a full 3D epic adventure such as Ocarina of Time, the new Zelda is a top-down sequel to Link to the Past. I think they'll follow this formula for a long time, sort of "gimping" their handheld experiences to still be fun, but separate from their console games. (Though I will admit that putting a sequel to a handheld Mario and a sequel to a game that fit great on the 3DS both on the Wii U went against this philosophy. Now they're giving us handheld experiences on their new system, which is confusing.)
When technology got good enough though, I don't even think I'd be against the handheld swallowing up the console. Imagine having a DS with a nice high-res screen and gorgeous graphics that could wirelessly stream to your TV when you weren't playing on the go. It's cheap, it plays all of Nintendo's biggest games, and it's different enough from the competition that it's not really competing, sort of like the Wii. And it's the only Nintendo system you own, playing everything from huge adventures to little distractions. I think that sounds pretty dang neat.
Currently playing:
Bloodbath Paddy Wagon Ultra 9
