Assuming Nintendo releases a console in 2016, they're almost certainly doomed unless they can pull off something like Wii. Why? If it's about equally powerful with PS4/Xbone, it can't compete with them due to its inferior software library. In such case, Nintendo is probably better off continuing with Wii U. If it's more powerful, it's going to be more expensive too, and it won't be able to compete unless Nintendo manages to secure extensive third party support, which seems unlikely considering their history.
To put it short, unless Nintendo manages to create another Wii or secure extensive third party support, their market is going to be quite restricted. The market for Nintendo's first party games isn't that big, even though it allows them to survive.
All in all, I doubt Nintendo's next console is coming out in 2016. It's possible but I imagine it would be quite the challenge for Nintendo.
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