Exactly, I agree with this. But for Nintendo, the last generation, regardless of whether or not there were droughts, these were not mistakes. The investors were probably very happy with the way the systems performed. So while Iwata may not have kept his promise after the Gamecube about having no droughts, the system was selling very well, so there was little pressure to be pumping out games. If he had tried to spend a bunch of money securing games, studios, developing new titles, etc investors probably would not have been happy.
For the Wii U though, the situation is different, as it is not selling well, and I am very much interested to see how Iwata handles the platform this year. It's clear to me that he is serious about making it succeed and getting the software out there, from the Nintendo Directs, so I'd like to see what comes of it. Nintendo can't afford to push off big titles right now, like they could in the past.