What if 3rd parties don't want to support Microsoft and Sony's next generation consoles? Unlike Nintendo, they haven't proved they can support their hardware on 1st party titles alone so without 3rd parties, those new consoles would be kind of screwed. On top of that, I wonder what Sony and Microsoft would have if they launched next year considering their some of their major franchises are seeing releases in the next 6 months or so. Halo 4 is a 360 game coming out in November. God of War: Ascension is due in March. The Last of Us is due sometime in 2013. The turnaround for these teams is typically 2-3 years. Everyone seems to be doing fine as is. Wii U may get trounced by Orbis/Durango in terms of hardware, but unless everyone is ready and willing to move on, is this really a problem?
This current generation shattered a lot of expectations. A glorified last generation console with motion controls dominated hardware sales for like 4 straight years and merely held up in the last 2 only because it had no where to go except down. No one saw that coming. The other 2 leapfrogged probably close to an entire generation in terms of hardware to jumpstart the HD era and launched at freakishly high prices. Unlike expensive consoles in the past, it worked (in terms of sales, not profits). I don't want to get into the intracasies of why all that happened. My point is that maybe we should stop expecting history to repeat itself because we've already seen it not. That's part of the reason I'm not worried about the Wii U.
Wii U will probably not see the same sales dominance that the Wii did. Perhaps that's okay. And maybe Nintendo has the right idea by positioning the Wii U where it is. 6 years into a console generation usually has the hardware at like $100. The cheapest you can get a new 360 is double that. If Wii U was more powerful, it'd be more expensive. $300-$350 is a sweet spot for pricing consoles. People don't seem to mind paying that. It's a balance of power and cost.
Nintendo is likely not selling Wii U at cost or at a loss, but it's hard to argue with that method considering Nintendo has stayed in the game so long. Microsoft and Sony would be smart to consider a similar strategy with their next consoles. If they do, maybe Wii U won't get trounced. If they don't, Wii U games will hold up graphically far better than the Wii and it will be cheaper to boot. It's too early to tell if this will be an issue. Nintendo kept thumping the spec-don't-matter card. They were wrong in 2006. 2012 is a different story and each passing year is making that line sound more and more right.