Iwata will turn it around. During its first year, people where calling the DS a failure and look how that turned out. The WiiU has been out for 2 months! Just give it some time. Sure the state of the global economy doesn't help but I have faith in Nintendo. It's quite probable that the WiiU won't be as successful as the Wii, and Nintendo is well aware of that, however, in the long run it will be a success and it may very well have longer legs than the Wii.
Right now people are taking hits at Nintendo because of the the post-launch drought and the apparent lack of third party support. Hopefully the third party support situation improves but there are some good games on the horizon. Particularly Rayman Legends and Monster Hunter Ultimate. Lego City Undercover looks interesting but who knows how good a game it will be. These are by no means AAA, chart blazing titles nonetheless they are interesting exclusives which should be able to give people something to play until the summer when Pikmin and The Wonderful 101 come out. The next 1st party release will probably be either WiiFit U or Game & Wario which are both interesting. It will be interesting to see the reaction of casuals towards WiiFit U, but Game & Wario could be a genuinely great game.
I remember that the Wii had a similar post-launch drought of releases, albeit a much shorter one, and that it wasn't until Wario Ware: Smooth Moves that the Wii started to gain more traction with gamers (Jeff really liked it and gave it a 9.1 back in the Gamespot days ). It was the game that showed the potential of the Wii Remote. Maybe Game & Wario will be the game that shows off the possibilities of the Game Pad. Game & Wario looks cooler and cooler with every new showing so who knows? Maybe it will be awesome!
The thing is: Never write Nintendo off. They may be behind in many aspects with respect to Sony and MIcrosoft, but if there is one thing that Nintendo knows how to do well is game design. They will find that one game that makes good on the potential of the Wii U and people will buy a Wii U for it. The only question is when.
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