It has begun :)

They will. Where else will they be able to get their brown shooter fix? Most third parties refuse to give them to Nintendo, and Nintendo sticks to using... colors.

Short answer: No

Long answer: Noooooooooooo ...

Didn't work out that way with the Gamecube and the OXbox.

Granted, I'm not buying into this "second coming of the PS2" argument just yet. It's only been 3 months.

No. The Most of the games that XBOne will end up with will also be on PS4, but not on Wii U, and if someone wants to buy the XBOne, it's obvious that price isn't a major factor to them so few, if any, of them would care about the Wii U being cheaper.

Of course they will, that's what happened with the PS2. 

this cant be serious, when xbox was getting served did people go out and buy GC? Nope and they wont now. Everyone wont buy a PS4? why not? just about everyone bought PS2. As long as Sony can give people reasons NOT to buy the other two, we will see them slaughter.

It will certainly gain back a little bit of market share. Like 0.2 percent maybe?

No but seriously now, if Xbox one completely fails (which won't happen btw.) the Wii U would probably sell around 30million consoles. But attacking PS4 in any way? No

The King of this generation was already crowned before the war even started...

X1 won't fail because developers now make everything multiplatform so even if PS4 > X1 by 3:1 margin the X1 will still get games.

Or will it?