It's not that the Wii needed more time on the market before a successor arrived, but it absolutely should have been supported better in its twilight years.
In 2011, the Wii's fifth year on the market, after the motion control craze had died down, after the "fad" had passed, the Wii still shipped 9.84m units that year. This was Nintendo's biggest selling console ever. It still lacked a Star Fox, it still lacked an F-Zero, and in my opinion, NSMBU should have been a Wii game titled "New Super Mario World" (because that's essentially what it was) with a new bundle and a price drop.
You don't take that kind of install base for granted. If Nintendo had just showed the Wii more respect toward the end of its life, it probably would have outsold the PS1 in the end. Alas, we'll never know.
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