Pretty much. Lots of what N64 did, simply didn't carry on compared to PS1.
Disc based gaming allowing for more data, voice acting, dual joysticks etc, they are now standard in gaming. Most of what N64 did couldn't even carry over to the Gamecube and they end up using disk, dual joysticks etc as they need to work off of what Sony PROVED worked.
Going forward Sony and MS became industry leaders and Nintendo was left to follow.
Struggling to make a standard controller, struggling to make a standard online....well anything, can't make a format that sticks, they seem to be in this odd place of fighting to get anything to really be standard. So I'd say Sony and MS do great jobs in getting TRUST behind their designs, online, dual joysticks, disk, they are not just gimmicks to those companies, they are new ways for gaming going forward and in order to get the community to trust this, they need to trust those ideas themselves. Nintendo simply didn't do that with N64 and I think that back and forth is what ultimately had those 3rd parties and most of the hardcore community move on to PS and XB. They know for sure those systems can carry on those ideas long term to have establish IP build real homes on those platforms vs ok we are using disk, ok we are not, ok we have dual joysticks, ok we have waggle now, ok we have a tablet feature now....no one is fucking buying that shit long term to really build a install base. That might work to sell gimmicks for Nintendo, it doesn't work with the massive gaming community or developers looking to establish those IP. Stabilizing and making those concepts standard might be an innovation all together. Its hard to build trust when the company is going back and forth on formats, controls every 5 fucking seconds.