I think honestly Nintendo is done in the traditional console marketplace. No one publisher, I don't care how good they are, can carry a platform on their own forever.
It's actually a bit of a wonder that Nintendo's been able to do it for about 15 years now, but it was never sustainable unless your R&D can come up with a new Wiimote type breakthrough every 5-6 years you're basically screwed, and they weren't able to this time.
People I think are quite happy with the way gaming is now -- consoles for high budget big screen HDTV experiences, mobile/iOS/Android for cheap/cartoony/arcadey games ... Nintendo is simply not needed in a lot of people's lives.
Beyond that, I just don't think Iwata/Miyamoto know enough about the overall market (especially the Western market where they are completely out of touch) to get Nintendo out of this mess. They are paying a big price now for abandoning Western development/studio support (and no, letting Retro and Next Level work on one Japanese Nintendo IP at a time isn't near good enough) and have no competent Western management.
Essay Pro