I'd say "Aye." (Isn't it "Yay"?)
He's done well with three out of four consoles, even if he did completely crap on one's release. One completely flunking console is a rather large problem, but nothing to fire someone over.
I would also like to point out that firing Iwata won't get rid of the problem, it's with Nintendo as a whole. As well as their stockholder's expectations, and many other outside factors. Iwata is blemish on the problem at hand.