No it's not. Nintendo's first year target is 16m WW, and they might crawl past that mark, but only after cutting the price in half causing them to sell at a loss. That's not good, and it's not trolling to say so. The 3DS certainly hasn't knocked Nintendo out, but it definitely gave them a bloody nose.
People have to realize that there's a large gradient between doing phenomenally well and being a complete disaster. We also have to take into consideration that 3DS is following two of the most successful consoles in history, with access to a library of franchises that are unmatched by any other publisher. In a vacuum, 3DS sales might be really good, but sales are meaningless without context. Since 2006, Nintendo's context has been overwhelming, awe-inspiring success. With the 3DS launch and the latter years of the Wii, they've stumbled severely.