It will be interesting to see I guess. If this doesn't do it then it's over for the Japanese console industry though.
Even though Final Fantasy and Dragon Quest are big too, they only sell to basically the same 3-4 million RPG fans there too.
The main problem I see is that Japan is a portable centric country. They prefer portables. The PS2 only had to compete with portable games that looked like this:
The NX or whatever Nintendo's next portable is will probably be able to produce graphics that look like this:
Most Japanese may just say "that's good enough". The GBA couldn't really produce expansive, 3D graphics, as such it was limited in the genres it could bring out. But today a portable device can be quite powerful and produce 2D or fairly decent 3D graphics too.