Yes and no.
It needs to have the basics, the most popular stuff, like Netflix and Hulu. Once the top options are covered, the rest won't matter that much to most people.
However, the problem with the Wii U is that people aren't seeing relative value at that price. It costs too much for people to forgive a lack of features, be that perceived or real. People will buy a console that focuses on games--they just won't buy it if the price is near that of consoles with a lot more functionality.








