No they will not realease it in 2016, the eariliest they will is the 2017 holiday season.
Here are two points to consider:
1 - Nintendo has a set cycle for home console releases that they have never deviated from and one "bad" E3 will not not change it. The cycle is about 18-months long and starts when they demo the concept for the console, though either E3 or a Nintendo Direct, goes through a "launch party" the next year either at an E3 or with a Nintendo Direct, and ends wen they release it. Since Nintendo has only said this console exists the cycle hasn't started. There needs to be either a direct or a game show. Here is the new console and this is what we want to do with it. Currently we don't know for certain what the NX is and Nintendo has been careful not say what it is. This cycle is to make sure there is enough development time for Nintendo to get game read for the launch window.
2 - Nintendo is making money right now. And in the past it didn't matter to them how far behind they where in the game, the gap between the Gamecube and PS2 that pales what is currently happening today. So why would they drop a console that is making money to push an uncertain product out that door that will more then likely put them in the red and further lower customer opinion even further since dropping a product for a new one actually does damage the brand, see Sega's march of console in its last few years of it's life as a console maker. It doesn't make sense to do it.
If anything this may spur a price cut this holiday season which we have not seen yet.
The NX what ever it is will not see the light of day until 2017 at least.
