It was mostly about the games. Nintendo experimented too much with their flagship franchises, and mostly delivered games fans weren’t waiting for, and were even “objectively” worse than their N64 predecessors. Beside the games it already started with a bad image; the purple GameCube was the main GameCube marketed (like how Wii “is” white, and Switch “is” neon blue/pink) and that made it look like a toy, or even a ‘lunchbox’ to the exceptionally pessimistic, in the eyes of the hardcore audience. A negative initial impression by the hardcore carries over to the perception of the wider audience. And so even though the GameCube was technically superior to PS2 in every way beside storage, the former was seen as an inferior console for kids while the latter remained the go-to gaming system for the masses.
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