If that's your point, then that point would be wrong. PS2 was barely ahead of Dreamcast ffs (DC actually had more video memory!) Gamecube and Xbox were years beyond it in specs.
Wii U on the other hand is capable of Unity 4 (even if unsupported) and supports many of the graphics capabilities PS4 can do, even if significantly lower. The CPU is a bottleneck, but the majority of the processing load is placed on the GPU, another similarity to the architecture to PS4 (but again significantly lower.)
As much as you don't want to admit it, Wii U is about as far behind PS4 (and by extension Nextbox) as PS2 to Xbox 1 and Gamecube.
360 and PS3 games' processing load are primarily on the CPU. Wii U, the GPU. The port from 360/PS3 to Wii U have had issues because of this problem. However you are seeing "definitive versions" starting to show up with NFS and soon Deus Ex. With new hardware you're going to have an adjustment period. To simply deny that reality is, quite frankly, ignorant bordering on idiotic.
Oh wait this was the guy that said Trine 2 wasn't a graphics intensive game because it was made by 20 people. I rest me case.