Yes, that's how Shigeru Miyamoto descrives the next console from Nintendo, so if you're expecting a battle of chips, graphics, processors and online settings you'll be probably disappointed. (or maybe not)
That equality of access means that it’s not enough to simply bolt together the best components currently available on the shelf, but “how we decide to make use of that technology and in what format is what will make our hardware unique in comparison to the hardware from other manufacturers.” Miyamoto declined to comment on speculation that Nintendo are planning a “Wii HD” or “Wii 2″, or even a brand new console.