Yes, yes it does. 

Bad name creates bad consumer awareness and can influence sales negatively. 

I don't think Nintendo realized how little Wii owners knew about gaming and console cycles. They got millions of people into gaming who never really gamed before, why would they have any clue about anything. I remember talking to a person who loved their Wii (and never had a game console before), when I asked why she didn't get a Wii U she said she thought it was the same thing with a screen controller and she liked motion control better lol.

Wii U branding was a complete market testing fail. The millions of casual gamers that got into consoles for the first time with Wii had no idea that Wii U was any different aside from the controller. Nintendo really needed to use a number to clarify it was the next version ala iPhone in this case.

Not to the point that a console become a success instead of a flop or the opposite

I think Smash Bros could have had a better name than "for Wii U/3DS)

Nintendo DS -- doesn't get any blander than that. Sounds like a code name for a product that they just stuck with because they couldn't come up with anything better. 

Play Station -- sounds like a Fisher Price toy. 

XBox One -- to a layman who doesn't know anything, how's he/she supposed to know an XBox One is better than an XBox 360. If I don't know anything about cars and one car is a Z1 and the other is a Z300, odds are I'm going to think the Z300 is better. Not to mention the first XBox was already widely called the XBox 1. This name is worse than the Wii U. 

The industry is full of sh*tty names. Even the Wii was kind of a stupid name. 

Sega had really cool sounding names. The Master System. The Genesis/MegaDrive. The Saturn. The Dreamcast. Didn't correlate to market success. 

Thinking about it =/= getting good results. If I think about a vietnamese saying for 100 years I would end up with nothing of value because I have simply no idea what I am doing but a person that is vietnamese can do it within 2 seconds. Not thinking is the problem but having people who know that they are doing and who can deliver good results is.

Sometimes they strike gold (GameCube, Wii, DS, 3DS) and sometimes they flop hard (Wii U, New 3DS) but I do think they try. Sometimes they just don't think sensibly though.

Reggie's just doing damage control for the Japanese side, but I do think they think hard about their console names -- too hard in fact. Nintendo has had terrible names for each of their systems dating back to the Famicom. Outside of Japan, Nintendo should never have moved away from 'Nintendo Entertainment System'.

NES
NES 2 (SNES)
NES 3 (N64)
NES 4 (Gamecube)
NES 5 (Wii)
NES 6 (Wii U)

Yes, their bodies are always ready to think of new rad names for their edgy machines.

Nintendo "thinking" too much about things isn't necessarily a great thing.

No thinking: Lets just make a Super NES successor with a CD drive + upgraded chipset

Too much thinking: Nah, we're going to skip CDs and use cartridges only. We thought about it and load times are bad, mmm ky?

No thinking: Lets make a powerful disc based competitor to the PS2. It'll have sequels to Mario 64 and Zelda: OoT and more Rare games.

Too much thinking: And lets take that idea, and make the console purple, we'll use DVDs, but make them mini-sized instead. Oh and lets put Mario on a tropical island and cartoonize Zelda. Oh and lets sell Rare to a competitor. Oh and that SNES button layout that we invented? Yeah we're going to totally change that even though no one asked for it. 

Nintendo's strengths are making great video games. Their decision making/thought process when it comes to the design/marketing of hardware however leaves *a lot* to be desired, they're often goaded into making bizarre decisions if left to their own devices.