No, that's crazy. If they were going to try to compete directly with PS4/XBone for the core market, they needed to do it with their sixth console. Even if it were possible to get such a console out by the end of 2015 or even 2016, they'll be facing such an immense competitive disadvantage that it'd be financial suicide.
I don't think he meant it needed to be designed to compete with Sony/MS offerings, just that it definitely needs to have some design influence from outside Nintendo. Fine if they want to go after some other gimmick, but at least have a competent base design by folks who've actually been through the motions already.