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They would definitely survive. Whether they would thrive is a different issue.

They certainly have the game design expertise to make some of the best games in the industry, but they're behind on a technical level; just look at how long it's taking them to bring out their top franchises on their own hardware. I think they would struggle to get to grips with other hardware especially considering how slow their development periods have been since they switched to HD.

Having said that, they have such a huge back catalog of games they could re-release and re-introduce to consumers that haven't owned Nintendo hardware in the past. That would give them plenty of time to get to grips with different hardware configurations.