Not unless they solve the lack of content/diversity problems that plagued the Wii U. A significant majority of gaming consumers are not going to give up on the large number of third-party games that release every year. That's just not going to happen.
Either they change as a company--and I'm not sure they can or even want to change--or they content themselves with being niche. The big negative with being a niche hardware company is that a lack of growth can lead to a lack of new consumers long term, which is very not good. It will eventually result in a consumer base that is made up of older, die-hard fans (if it isn't already) which will shrink naturally as time passes. That's why Nintendo wasn't exactly happy that these die-hard fans were the ones buying up Amiibo instead of kids. They need turnover and growth more than they need raw sales.
A shared hand-held/home library could make a dent but it still won't solve the problem, especially when there is a lot of overlap to begin with.
They could possibly hit another hardware gimmick/innovation homerun and all their problems will be solved. It wouldn't surprise me if they bet everything on that.
