The NS (yes, I'm going to call it that) has to prove that it can compete in the market. Create the demand for their console. Right now, if you want to game on your TV you have PS4 and XONE, PC are in a different class altogether so I'm going to leave them out. NS gives you the option to play on a TV, that's freaking rad.
Right now they're starting it off on the right foot, marketing didn't focus on kids/families (right now) but the busy 20-30 somethings who still want to game but don't spend much time at home and would rather socialize while gaming, like LAN parties... the ones who can usually afford these things. Also, it doesn't look like a fisher price toy and let's be real, mainstream gamers are insecure fragile people... they want something that looks sleek and sexy. the NS looks like legit tech and not a "toy".
The Vita, while strong in it's own right just didn't get a proper push and Japanese companies supported the shit out of that thing. 3Ds dominated sales and was cheaper. I think Nintendo still has a good chunk of handheld fans so that's one strength they can rely on.
My biggest concern is third parties dropping out before the first year is over. Sure, we're getting Skyrim (the ultimate yes?) so if sales are good there might be a chance for a Fallout collection or even FO4 if it were possible... but it's wishful thinking considering how huge that game is. Every Nintendo cycle starts out strong and ends it's last few years with a trickle. Hopefully they'll break it this time.