Personally, what I think is far more important to Nintendo reversing their declining sales and relevancy is getting NOA back to where it was in the N64 era.
Iwata needs to relax his grip on it and rebuild it with regional autonomy and give it enough war chest money to set up/buy out/organise exclusive contracts with US studios in the same way they do with Jspanese ones.
Get some new Turoks, Perfect Darks, Conkers and Banjos out there and market them heavily to drum up awareness. It won't suddenly make everyone drop MS and Sony and come running, but it'll slowly shift perception away from being a kiddie only/casual machine just for Mario games.
Hell, I fully expect it'd be a generation or 2 before it'd start to have a real affect on public perceptions, but what's the alternative?
That and do something for Mobile. Either an app for ges you can only get new software for via web browser to avoid the apple/android tax, or partner with a single company and make a unique Nintendo Phone and split profits.
Stick with their current strategy and watch market shares fall ever lower as the Console buying Nintendo die hards dwindle ever more? Pretend Smartphones aren't just going to take more and more of the handhelds sales as time goes on? Keep throwing random gimmicks out there in the hope of another Wii level lucky break?
Copying the competition won't work. They're too far ahead now to catch up, thanks to Nintendo ignoring HD and online in the 7th Gen. Power is not the be all and end all of competition, and Smartphones are not going away. The only advantage they have left is software, and unless they broaden their appeal that's going to have less and less impact as time goes on.
Well, that's my opinion anyway