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I'm going to reference the most accurate source imaginable

Wikipedia: A fad is something that is very popular with a small group of people for a short period of time.

1. small group of people - 30million and counting is not a small group of people, and if it is, then 360 and ps3 fit more into this category than wii

2. short period of time - This is relative to the product in question, for a video game console which usually have lives around 5-6 years, 2 years of record breaking sales means that its been an unstoppable 'hit' for at least 2 years.. that is one third of an average lifetime of a console, and by no means a short period of time

 

In conclusion: No, the wii is not a fad