Yeah, no. Not at all.
I think people are mistaking my concerns about Nintendo's showing with derision, which couldn't be further from the case. I love Nintendo and am excited to see what they show. But the fact of the matter is, E3 isn't about stuff we already know about. It's about GAF-breaking megatons that get people out of their seats cheering.
I think, more than any other company, Sony just seems to "Get" E3. They put forth a constant stream of quality games, one after another, with little room to breathe and little wasted space. People forget that the E3 press conferences are the highlight of E3 because they're just as much about showmanship as they are information, and Sony seems to understand better than anyone else how to surprise and excite people. Not saying Nintendo doesn't have that ability, as they have shown in the past - but it just isn't their focus, and when they miss, they miss hard.
As for MS, they've already built up a lot of hype for their conference with the Scorpio reveal, and new hardware will pretty much trump everything else at a given E3 especially given the specs of the console. So Nintendo is definitely fighting an uphill battle.