No ...
I'm not quite as "Optimistic" as John Lucas but I really believe we're only a few weeks/months away from Wii demand exploding. The greatest selling feature for the Wii is the enjoyment people get from playing it (typically with the simple multi-player "mini" games).
Imagine when 4 Million children, teens and adults open up their Wii on Christmas morning and start playing it. The uniqueness of the Wii and its reputation for being fun for everyone means that every member of the household tries it out and most of them have a really good time. There will be aunts and uncles, grandmothers and grandfathers, cousins and friends who all get to experience playing a Wii for the first time and most of them have a really good time. For every Wii sold there will be several potential customers who try out the Wii and become interested because of how different it is.
Just think about that ... 4 Million Wii systems leading to 8 to 20 Million potential customers of which many (if not most) will seriously consider buying one for themselves or their family ...