No, I just don't see the console lasting that long.
The thing is, while the WiiU is cool and all, it's getting released at a really awkward time. It's at the tail end of the current console cycle, but it's being released before the next one starts.
Nintendo is saying that the WiiU is going to be significantly more powerful than the PS3 and the Xbox 360, but the problem with that is that only the first party games that Nintendo puts out are going to take advantage of this, and the rest are going to be ports of games that are on the xbox 360 and the PS3, so difference will be completely negligible, and honestly, how much more powerful does a console have to be to render Mario? Nintendo's games have a cartoony charm to them which doesn't need to have HD graphics and hyper-realistic detail.
The problem also is that Microsoft and Sony are working on their own new consoles now, so after the WiiU comes out and next xbox and PS will be released right behind them probably about a year or two, and they will both be more powerful than the WiiU probably, trapping the Wii in that state again where it's not quite good enough to run all the third party games that the xbox and PS do, and so get saddled with only their first party titles (which are great) and shovel-ware from their third parties (which is utter garbage).
I just really don't see this as ending that well for Nintendo, no matter how they play it, the timing is just really off.