You're wrong. WiiU sells currently worse than PS3 and X360 did in their respective first year. Look here, I made a thread about the sales: http://gamrconnect.vgchartz.com/thread.php?id=152379

WiiU had better launch-sales, to be correct the WiiU-launch was great. But in the year these numbers couldn't be held up.

Regardless, you'd have two consoles doing 50k or less, and the Wii U doing what?  Even if it magically went up to 300k, that would be a smaller hardware market than 2007.

To put it into further perspective, the 3 consoles and 2 handhelds did 13.5 million units of hardware in the first quarter of 2007.  Meanwhile the Wii U has done 603k in the first quarter of this year.  If both the PS4 and 720 do even worse than that we are looking at maybe a million from them.  The magical 300k a week would give the Wii U 3.9 million.  So that would leave 8.6 million for the handhelds to make up.  Considering they did less than 3.2 million this year, that doesn't seem likely.  So yes, if the next gen consoles do even worse than the Wii U, the industry would be in deep trouble.

Both have sold badly, but Wii U has a better chance of turning things around.

This.  Vita is going to be last place for the portable consoles this gen, Wii U will be last place for home consoles this gen.

I think this year the Vita will have more overall sales than the Wii U if there's ever a price drop, but eventually the Wii U will have more sales altogether when its price drop hits and the catalog of Mario games starts coming in.  The problem with Vita is Sony rarely does price drops on consoles so after one price drop we won't see another for awhile.  With Nintendo, they're not against doing console price drops because their first party games are almost always full MSRP their entire lifespan. 

That being said.  Right now the Vita is doing better when it comes to the games.  It has more quality exclusives.  I haven't yet bought any PS3 games on my Vita(although DoA5, Rayman Origins, and Dragon's Crown will eventually happen) and the Wii U is in the same boat with just about every game worth getting on another console.  Unless you're a die hard Nintendo fan, there is no reason to purchase a Wii U at this point when you can wait until it finally starts getting exclusives giving a reason to purchase it.

3DS also is very affordable at $180. Wii U won't get there any time soon. 

Wii was there to save the day. It was an affordable console marketed toward everyone from kids to grandmas.

I think the big question here is that since Wii U isn't selling well, what will pick up the slack? PS4 or XBox 720? It's tough predict since both of these will be about $500. Maybe none of them will. The industry will be kept afloat by PS3 and 360 for a few more years until the others become affordable.

based on what? the imaginary performance of ps4 and nextbox?

Didn't you forget anyone on your post? hint: starts with W and ends with U

Its useless to say this, but a products sucess is not measured in one year. There are still price cuts to come and these systems will stay in the market for a long time.
Also saying the systems are disastrous isnt very accurate. Both systems are insanely good. Nitendo and Sony just failed to show costumers that and developers cant take many risks in this market.

You know very well the market doesn't look at the price of handhelds and home consoles the same way, so I don't even know what you're trying to do with that comparison.

Also, unlike the 3DS' $250 launch price which was way above the price previous handhelds like GBA, DS launched at, the WiiU isn't too expensive at all. $300 or less has always been a good price to launch at.

WiiU's problem is the software drought and marketing.