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How many consoles in gaming history have actually had this "mythical" turn around?

Sega Master System? Nope.
Turbo Grafx 16? Nope.
Sega Saturn? Nope.
Sega Dreamcast? Nope.
Nintendo GameCube? Nope.
Sony Playstation 3? Yes.
Wii U? Not looking good.

To me it looks like the PS3 was really the only one that turned it around after more than 1 full year of mediocre sales, and really the PS3's main issue was the freaking $500/$600 price point. Once that eased up (just a matter of time), the machine had 100% third party support and was able to perform well.