Not a nintendo fan or anything, but I got great respect for their work and how they create their games. Everyone is like following hypes and going with what's popular, while nintendo keeps doing its own thing. Basically what i'm trying to say is that even though wii was a failure(not sales wise anyway), I prefer nintendo's gamedesign philosophies more.
You know, since i'm posting anyway, let me just say this.
I think the reason why the Wii U hasn't done too well is simply because of financial reasons. I am not poor or anything, but I also can't put getting a wii u as priority right now. I would have definitly if times weren't so rough as they are today. This is a personal thing, but I think this is the case in general.
Another problem is that the Wii U doesn't have a system seller yet. There's no software bringing me to desperation to get a WII U.
However I think nintendo made a smart decision keeping the console affordable. Everyone would agree that the wii had terrible graphics. But honestly I think todays gen consoles look fine period. I don't think todays graphics will ever look "ugly". Hence I find the decision smart that they went with visual power that look "fine". Not next gen but fine.
Anyway my point is that I think the ps4 might fail. I think it will fail for the same reason as psvita. Having expensive and better hardware is not a good thing at all. If anyhing, the psvita has proved it being the opposite right now. The higher the standards, the higher the expecations of people will be. This will make companies hesitate about developing a game because 1. it will cost a lot of time 2. It will cost a lot of money 3 Hence not many games will come out on the long run. Because if any game gets developed and looks or plays like last gen games, they will not do well.
An expensive console within these tough times will simply not work. The playerbase will be small even though great software may come out. The initial sales will be decisive for whether 3rd party companies will join developing. Just like previous gen, there will also be some companies taking the risk, and going bankrupt.
However just like how it's cheap to develop for the 3ds, it'll be cheap to develop for the wii u as well. At least cheaper. Both 3ds and Wii U have "fine" graphics now. The 3DS has become very succeful with great software. I think this will be the case for Wii U as well.
Just my 2 cents. Everything I said may be complete bull. I would also like to recommend anyone to read this blog about how sony lost its identity in the couple of years.
http://www.ign.com/blogs/megabusterlegends3/2013/02/05/rip-sony/