it's going to be rebound in japan soon, thanks to youkai watch 2, monster hunter 4g, super smash bros for 3ds and then pokemon.
In the west, it's a completely different story, with the first hugely hyped game to be super smash bros for 3ds in October. They do have some decent titles in between like pokemon art academy (june for europe), theatrythm curtain call, professor Layton vs phoenix wright,sonic boom and fantasy life, - most of which aren't exactly system sellers, but a consistent release schedule at least. Yeah, it is a little worrying. You can tell nintendo is rethinking their strategy with the 3ds in the west, particularly with the codename steam (attempting to appeal to the north american market), and amiibo integration next year.
Still, it needs rejuvenation.