I'd say yes and no. Nintendo has certain strengths that haven't really been brought to the front yet in terms of people and decisions being made with console dollars. The backward compatibility of both controllers and games really can help although Nintendo isn't helping matters by discontinuing services.
We are seeing this in the cell industry as well and the point is that with mature systems in place with regard to say engines and development tools, the same old experience only with MORE.... resolution, polygons, etc. has a limited return. Call of Duty Ghosts, Titanfall, etc. really haven't generated a huge buzz. It's much like how folks have cheered on Samsung against Apple and have now seen the S5 and the collective reaction is BLAH. PS4 is the best experience for a certain type of gaming but that type of gaming requires such an investment and type of exclusivity that the returns are diminishing in terms of entertainment for dollar spent.
PS4 has grabbed all the early hardcore early adopter dollars. Some of the costs over time though will limit options though. The additional headsets, controllers, online play etc all will add up and of course the fact that all the PS3 materials need to be maintained to keep the prior investments are an additional expense.
The Wii U is a different experience and it is very economical. The bundling occurring already allows a pretty decent return on the dollar and again being able to repurpose controllers and games just stretches that return even more. I think that people in the states want their FPS shooter experience in 1080p. However when pondering a different experience the WiiU just keeps showing up with great games and no massive costs in terms of online play, etc.
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