As we know Wii U hasnt been selling too hot thus far, although there has been a modest sales spike recently. Usually Nintendo consoles have around a 5 year lifespan, but is it possible for Nintendo to play the long game and dig in for the long haul with the Wii U. Like the PS3/360 the previous gen, both endured a slow start but with smart console updates and a steady supply of quality titles they saw their install bases grow over a long period of time. If Nintendo can go all out producing quality first party titles and have a few interesting 3rd party efforts (im sure there will be some support), could they have modest sales spikes to grow a better install base over a longer period of time. Or does the way Nintendo operate make this impossible to acheive?

Yes. PS3 shows it can be done, no single game "saved" it (remember the chalkboard) but continued strong support, exclusives and price cuts made a complete turnaround over the gen. From third parties, at a minimum they need to secure first-tier CoD and AC support (not just A game but one people might say is equal to the others) , the next GTA, and Minecraft.

But Nintendo needs the unit sales now. Or certainly Iwata does, if he wishes to stay in charge. Sony and MS are better set up for the long game because they can hide losses against their other divisions. Nintendo would just appear to be burning through cash if sales remained low but Wii U production remained at full scale.

That is totally up to the gamers that buy the console.

no, they would need stellar third party support to do this

so what (and when) nintendo put on the table doesnt matter?

With their current operating model? I'm not sure exactly how far they can go. Mario will only continue to bring Mario fans. The problem is that they aren't making new fans who already own another console.

With their home consoles, they really need to mimic what they've done with the 3DS. They need new IP that offer something beyond platforming and cartoon graphics. Variety is the spice of life. It's time to partner with more third-party developers or create/acquire more diverse internal groups. Bayonetta 2 and X are a start.

Yes, the 3DS has been around longer, but it offers so many different experiences that pretty much everyone can find something they like. The contrast with the Wii U is brutal.

They need 3rd party support on a meaningful level and they need to introduce exciting new franchises to keep new people coming in.

DS could have done it had they not rushed out 3DS.

That's a great point now that I'm thinking about it. Ps3 never really had that one HUGE system seller. Sure GT5 is exclusive and sold 10 mil, but mainly sold consistantly over a long period. The Wii had Mario bros, Brawl, the 360 had Halo, Gears. Ps3 had a more balenced and long term librairy that didn't sell 3+ mil units first day. 

You misunderstood. I meant that what the owners of the console buy and what they do not buy influence what Nintendo does with the Wii U now and later on.