He's right and I'm going to explain why Nintendo is very likely going to have serious problems this year and next with Wii U.
PRICE
The Wii U's price really is a no-win situation for Nintendo because the only way they can compete would be to sell the system at a massive loss (think PS3 type early losses) and we all know Nintendo simply isn't going to do that. So the system is going to be at least $299 and it will be competing again consoles that could be as low as $99 (the 360 is going to be getting a price cut this year and could be at $89-$99 during Black Friday).
GAMES
Some of the biggest third party games this year won't be on WIi U (I'm sure you're going to ask me for proof but it's really common sense). Take Grand Theft Auto 5 for example, I'm willing to bet anyone here that it won't be on Wii U in 2012. When GTA4 came out it was delayed past X'mas and that was for just for two consoles, so it's very likely they're going to be working until the last minute this year just to get the 360 and PS3 versions of the game out.
Then there's the big HD IPs that will make it out on the system. The simple fact is that the audience for these games are already on 360 and PS3. It won't be a simple matter of bringing out a slightly better looking game to make these players move to a new system, the difference would have to be staggering and that's assuming the Wii U's online rivals XBL and PSN. The problem here is that the Wii U would have to be a lot more powerful than the 360 for that to be the case. It will be first generation Wii U games competing against 5th and 6th generation 360 and PS3 games in which the developers are wringing every ounce of power out of those systems comparted to the Wii U which they will be just starting to come to grips with.
So that basically leaves Nintendo's first party efforts to carry the system and these will be Nintendo's first HD games which take significantly more resources and effort to produce. As we've seen with the 3DS it takes time for their major games to come out and if they don't have all their ducks in a row this year it will make the holidays especially tough for them. Looking at the 3DS it's hard to imagine them having multiple first party AAA HD games ready for launch but who knows, maybe they'll surprise everyone.
NEXT YEAR
The successors to the 360 and PS3 are likely to launch next year and as we've seen consoles that launch later typically have an advantage in terms of technology simply because costs come down. If the WII U is really the equivalent of 2 360's in power the WII U could be in the same awkward situation the Wii found itself in but instead of 2 Gamecubes duct taped together you can just replace Gamecube with 360. If the system has only 1 gig of ram (there's even the 768MB of RAM rumor) then it will look pretty bad if the competition has 4-8 gigs of ram on top of large hard drives and significantly more powerful processors.
Anyways that's why I think the system is going to have serious problems and that's probably Pachter's line of reasoning as well.