I am moderately happy with the console and its games. I've had plenty to enjoy, with good 3rd party titles like COD filling the void between AAA 1st party games like SM3DW and Zelda WWHD.
That said, I am not completely satisfied with how Nintendo is handling the Wii U.
As a gamer, I want better content. Nintendo has several options. There could be some Gamecube virtual console game or a couple more HD remakes - Zelda only took 6 months and 4 people. It was probably the most profitable title Nintendo released in some time. Give me Mario Sunshine and F-Zero GX in HD and I'll be pretty pumped. N64 games and others should be on the VC too, though Gameboy Advance was a great step.
There should be more varied content from 3rd party publishers/partners/new studios going forward. Nintendo should buy or start up a couple studios to make games different than they usually make or bite the bullet and pay some 3rd parties for a couple key games. As long as a couple key non-Nintendo style games (like COD) are there I'm content. If they're not going to be there, Nintendo should take steps to add the content internally. We may not get FFXV, but how about Nintendo makes sure we get Last Story 2 from Mistwalker.
I'm not overly impressed with Nintendo's first party innovation. Particularly with the Gamepad, it's been an expensive afterthought. I love it for non-gaming functions, but in-game it's been next to useless or only slightly nice. 1.5 years in and we have yet to see something fun and innovative. They've also lacked innovation in mainline titles, Mario in particular. 3D World is outstanding in its polish and execution but it lacked the innovation of Galaxy. With Wii in the first year you had outstanding versions of classic games (Mario3D, Zelda, Metroid), quicker new titles like Paper Mario and WarioWare and totally new concepts like Wii Sports and Wii Play. I'm let down a bit by Nintendo's content innovation so far.
There has been a lack of exciting new things on the OS or in general with the Wii U experience do far. With Wii you had VC to begin with, but they would also add new systems and then came WiiWare to mix things up. I'd like to see Nintendo add something to my console that I've been enjoying since launch, such as adding trophies at last or the ability to customize my menus. I do like how the music changes on eshop, however, and they've done a great job of speeding the system up.
From a non-gamer perspective looking at it as a fan or analyst hoping for them to do their best, I'm not happy with what they are doing. You can never concede defeat this early and there are many things you can do. MS reacted great on the fly last gen adding avatars and changing the OS, releasing Kinnect, etc. Right now Nintendo should be aggressively re-inventing Wii U. Either with a couple really innovative casual titles that will grab attention or - if they can't think of anything along that line - by re-focusing on core games and updating the system accordingly. Release a re-design with a smaller, more ergonomic classic styled Gamepad controller and a new color theme/style. Develop, sign, contract some classic core titles. Mighty No. 9 should be a Wii U/3DS exclusive. There should be an innovative new shooter and some RPG content. And Zelda should be classic and mature. The type of things that get the older traditional Nintendo lovers to buy the console and its content.
And yes, they need much better marketing.
