AMD is giving Sony a 14nm 4 TFLOP GPU for a $399.99 sticker price, if Nintendo is not even able to get 2 TFLOP for $299.99 ... they are getting hosed, plain and simple and should take their business elsewhere (like PowerVR).
They should all be getting the same GPUs for more or less the same cost, I'm sure MS does too.
If Nintendo unifies with a weak console, IMO it will be the last Nintendo console.
People already overwhlemingly chose the 3DS over Wii U and even DS over Wii. Why should they buy a console NX when it doesn't even have its own games? If graphics are not the impressing factor, then who cares, not enough people care about playing Nintendo games on a TV. They'll just buy the portable and play Mario Kart 9, Animal Crossing NX, etc. on that.
The home console needs to have impressive graphics, the Nintendo games can be shared, but the home console should be able to run the higher end third party games and Nintendo games 1080p or even 2K/4K resolutions. Otherwise Nintendo will basically just have the portable take over the dedicated business and theother pillar for Nintendo will be mobile phone games (maybe even the leading pillar).
