It might be too late but it's still a chance worth taking. There remains potential in the market. It just can't be a cheap copy, however, or the Nintendo version will be overshadowed AND they'll piss off Disney and Activision. It has to bring some new properties to the table. Pokemon is such a promising franchise in terms of content, they really need to look in that direction. If they use Mario as the cornerstone, though, I think they'll run into trouble appealing to the newer generations.
The biggest problem will be parents who have had enough of buying figurines and will balk against their kids starting a new version of the same hobby.








