The problem with trying to use the Wii has a historical point is that it was a pretty blatant outlier last generation in terms of hardware sales, software sales and lifespan: hardware sales were massive, but software sales were disappointing and the console effectively died in about 2010-ish. Now, whether that was due to third parties not making enough of an effort in courting the new audience, Nintendo for not courting the third parties or said new audience not buying videogames will be an argument that people will be having for years, especially considering the WiiU's performance and how it was dead on arrival, frankly.
The other problem with this discussion is that it's incredibly US-centric. Which makes sense, given that it's a NPD sales thread. However, I do think looking at the worldwide sales, there is something of a discrepancy between the PS4's somewhat mediocre (for a leading console) US performance and the Wii-grade worldwide numbers they're announcing. I suspect that the PS4 is opening up new geographic territories for consoles, and becoming the de-facto leader in several new and upcoming territories. That, and the fact that the US console market has been the most competitive (in that we don't already know the winner for each given month) in well over a decade, which will damper that leader's numbers.
Meanwhile, compare and contrast the Xbone's decent US numbers (for a second place console) to the complete radio silence about the worldwide figures. There is a possibility that the Xbone has already peaked in terms of non-US and UK sales, and that the proportion of US and UK sales (which is already very high, I'd guess in the 60% region LTD) is going to increase. Like with Nintendo's woes, whether that's a problem for the manufacturer or for the market as a whole is another question (although it's hard to argue that Microsoft didn't totally botch the non-US advertising initially).
Ultimately, though, hindsight is 20-20, but I do think it's way too early to book console gaming's funeral.