Would Nintendo survive if they went 3rd party?

[zorg1000]

Soundwave said:

The main issue with going third party is losing licensing fee revenue.

Aside from the Wii U every Nintendo platform, even the GameCube, had significant amount of licensing revenue from third parties.

It doesn't even matter if a third party game sells or not ... that copy of Barbie's Dream Adventure sitting in the $10 discount bin for Wii or 3DS at your local Wal-Mart? Guess what? Nintendo already made $6-$10 for that copy of the game whether it sells or not because the publisher had to pay that fee just to have it manufactured. 

They lose royalties plus having to pay royalties plus the loss of hardware/accessory profits (outside of 2-3 years this generation hardware has been profitable for Nintendo) which means their games would need to sell much better in order to make up for all this.