Well, I've been saying for a while that I think the next generation is going to see some challenges. There is a certain level of "good enough" with this generation that I don't think people are going to be as quick or spend as much money for the next generation. I don't think the gains in the next generation are going to be as huge as the ones in this generation (see the difference in impact between DVD and Blu-ray, for example.) Certainly with Sony and Microsoft going with AMD to run their next gen, they won't exactly be pushing the envelope much.
While I do think Nintendo have made some errors in putting out the WiiU, I don't think any of them are fatal. Personally, I think the launch was solid, but bad ports and lack of immediate followup is going to hurt sales. That being said, my experience with it was a positive and I might look at picking it up at some point when there is more content. That being said, it probably will be my last console purchase. Unless the other guys do something unique to get my attention, I'll be satisfied with gaming on my PC.