From a development perspective -- yes.
The days of being able to poop out a handheld game in 8 months with a team of 5 people while your main teams worked on "real console games" are over.
Kid Icarus Uprising required the same development time that a Smash Brothers game would, Smash 3D required more or less the same dev cycle as Smash U. Mario 3D Land took two years to make, the same as Mario 3D World. Monster Hunter games took years to make.
One decent 3D got on portable from a development perspective they effectively have become the same as consoles. In terms of sales categories, if you want to divide the two to get a more accurate read on the market, that's fine, but that's kind of a different debate.
But functionally, yes. The next-gen portable will even be capable of graphics equal to or possibly even better than the PS3/360/Wii U which means you will have portable games that have graphics like this:
And this
This is part of the reason why Nintendo is going to have to unify their product lines -- no company (not Sony or MS either) can support two console platforms simultaneously. You will have massive software droughts without unifying product lines.
