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No new IPs since N64 is a little harsh, though. Sure, N64 had a lot (Wave Race, Sin & Punishment, Smash Bros., Mischief Makers, Blast Corps, Diddy Kong Racing, 1080°, Mario Party, Doshin the Giant, ...) but it's not like there was much less after that. Sure, Nintendo uses its known characters for some new things (Luigi's Mansion is somewhat of a new IP, Donkey Konga and lots more games that just got a Nintendo face to be recognized) but there have been plenty others. Yeah, lots were planned for N64 but they were released later. Nintendo got really great exclusives on Gamecube and Wii, not all published by Nintendo, it's just that people don't know.
Nintendo needs to learn proper marketing and that people can like new faces.