Splatoon feels like the only new franchise in like forever to really be birthed on traidtional gaming platforms to come out and be a hit and even that was kinda gimped by the Wii U.
The one concerning thing is we're 3 years into this gen and there isn't really a new huge breakout hit IP from anyone. Minecraft was from the last gen.
I do thing console gaming might be in some trouble, because there's too much entertainment available today. Netflix, Hulu, PVRs, smartphones with games/social media, etc. etc. there's too much to play, watch, consume that I think we're entering an era of like
In a funny way too I think Switch could accelerate the decline of the traditional console. Even if it's a temporary success, what's going to happen is Samsung and other tablet makers are going to make "me too" knock offs, and the hybrid idea of a tablet form factor device that can also serve as a home console is going to become standard for most tablets going forward because everyone will copy that.
So basically everyone who has a tablet or even phone in the future could have a decently powerful console rig right in their phone/tablet already, all they'll need is like a bluetooth controller and they can play.