I hope not. You got your MovieBobs of the world arguing in their favor with logical fallacy-laden arguments, either under the guise of "opinion" and/or while also accusing naysayers of using logical fallacies (see: Bob's laughable defense of Other M) and a bunch of people (including Bob) equating popularity with worth, but what is Nintendo truly doing in the "really good game" front?
I can think of two honest-to-goodness awesome titles from Nintendo in the last few years: the first Mario Galaxy and Kirby's Epic Yarn, the former for being the only game where I feel Wiimote controls actually feel intuitive and comfortable and the latter for showing that you can do a platformer without a lives or health system (the game's difficulty is a disconnected concern from that, haters).
The rest? Smash Bros. Brawl has a game mechanic harmful to every level of play (tripping, and no it's not beneficial in any way, shape, or form) and forces you to "work" to unlock the characters you already paid for. Not to mention it being a game with trashy mechanics in general. NSMBW's multiplayer is both clumsy (mid-air collisions) and devoid of any sort of netplay, and the single player game feels like a ho-hum Mario 3 clone. (Mario 3 is slightly overrated, OMG BLASPHEMY) Donkey Kong Country Returns shoehorned in unwelcome motion controls and turned the expertly-designed Rare levels into kinda-sorta time trials.
As for Twilight Princess, putting aside my own distaste for modern Zelda (which is actually separate from how I assess the games' quality, and yes that is a thing), I can just play the GameCube version and enjoy a Zelda game without Nintendo telling me "no, sonny, you're not allowed to play this game any other way other than how we say so." COMPARISON: Doom, on PC, supports keyboard/mouse, keyboard alone, and various gamepads. Hell even the "vaunted" (read: terrible) Brawl has the decency to let you pick your controller.
I lent my Wii to my cousin and haven't missed it, except for a Cave Story playthrough, which I just played on her TV. And certain VC releases, most way better than 95% of the Wii's library.
Why bother with Nintendo anyway? With my Steam account and XBLA/PSN, I get access to much better versions of the kinds of games Nintendo used to pride themselves on. Bastion is a better Zelda than most Zeldas. Games like Megaman 10 (way better than 9 btw) are available on all three consoles, and it looks better on a 360 or a PS3 and controls way more comfortably than on a Wii. N+ boils platforming down to solid physics and mechanics, something neither Nintendo (with Mario) nor Sega (with Sonic) has done well in a long time (Mario Galaxy notwithstanding). Modern 2D fighters, including really awesome-looking indie fare like Skullgirls, need not a Nintendo system (Tatsunoko vs. Capcom blows, eat me).
Actually, while on the topic of 2D, where has the "amazing 2D game resurgence" come from? Nintendo's made several contributions, one very solid (Epic Yarn), two others ho-hum (NSMBW, DKCR). Where's the rest coming from? XBox Live Arcade. Playstation Network. Steam. Indie PC titles. Cave Story is better than most Metroids, and one (extraordinarily talented) Japanese dude made the whole original game, for free (the Wii remake is worth the cash though).
Nintendo is irrelevant, at least to this gamer. And I wouldn't have it any other way. Whatever they pioneered -- and they've pioneered much -- others are carrying, running with, and improving. To hell with Nintendo.
I digress, so back to the topic at hand: I hope they can't salvage themselves, but sadly, they're not in danger. Yet.