Yeah, the Wii U is going to be seen as a failure because: A) it followed the Wii, and B) Nintendo told people that they were going to make it appealing to the core gamers who had strayed. The first part is unfortunate because they were never going to come close to the Wii's numbers but the second part is their responsibility. As it stands, the Wii U is going to steal almost no customers away from Sony or Microsoft while losing a good chunk of its Wii base.
It wasn't long ago that I said the Wii U would be fine but I'm not so sure anymore. I'm not seeing any excitement about Mario except for the people you would expect. The last Zelda didn't do the series any favors and I'm wondering if with Mario Kart 8 people are going to be like, "you know, I already have MK7." Unless you're a die-hard Nintendo fan, the best games are going to be elsewhere.
Inexplicably, it has nothing major lined up for the holidays against two consoles that are killing it in pre-orders. It's not going to be pretty.