I think from a market POV I'd say no.
They simply can't compete against Sony and MS both, they just are too lazy in execution and way too far out of touch with the modern market to be taken seriously in that role today.
They needed really to get it right with the GameCube and they made too many stupid mistakes with it (beginning with making it look like a child's toy), and that basically sunk their traditional console hopes in a lot of ways.
Going with a portable-centric platform is more within Nintendo's ability these days and they're better off focusing on the portable market.
Console market is too tough and has changed too much for them to ever be a driver in that market again, especially given their traditional Japanese management. It's just beyond them.
I don't really view Switch as an innovative platform really though, it's just an extension of the Wii U concept just taken to the logical next step ... becoming fully portable instead of semi-portable. I'm actually surprised they don't really have anything that new beyond that, I mean HD Rumble is sorta neat, but at the end of the day it's just a shaking controller, it doesn't dramatically alter anything game play wise.
