Most likely, no.
There is the off chance that Nintendo releases a cross market device that extends outside of their core market, but the company's success hardly hinges upon unexpected bullseyes like the Wii.
They haven't been competing directly with MS or SCE since the GC and the notion that Nintendo can release another console that will go head to head with a directly competing product as the main console platform of a generation is a borderline fantasy at best.
But if the question is whether Nintendo can release a console that won't win over the core console market but will create another expanded market, one would be counting on the company releasing a product that is of minimal to greatly reduced interest to the core gaming market. Is that what Nintendo supporters really want from the company?
But if by relevance, one means will Nintendo release a console that will continue to generate profits for the company, thus insuring its continued existence as a platform for its own franchises/IPs, then yes; absolutely.
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