I'm, by far, the biggest Nintendo fan I know. I own probably 40 Nintendo handhelds, 3 Wiis, 5 GameCubes, all of their new shit, and at least 100 different Mario toys (plushies, etc). Point is, I love Nintendo probably more than any other company.
That being said, there is absolutely elements of truth to this article. Is it a bit dramatic and exaggerated? Sure. It was written that way to attract people to the site.
But if you guys seriously think Nintendo isn't in any sort of trouble at the moment, you're fucking crazy. They're - absolutely - in no danger of disappearing, selling out, etc etc, but he's right about their current trajectory. The thing is, that can change. 5 years ago, they had a totally different trajectory. It's not like they're in this giant hole they can't get out of, but things are way more difficult for Nintendo right now. Failing to recognize this could absolutely mean more disastrous roads ahead for them.
Thing is, I don't believe that they are blind to what's going on around them. Nintendo is a fucking smart company - you don't stick around this long and make that much money by being stupid. They recognize what the world is like, and despite what their actions dictate, I believe they have at least some sort of decent plan. It's 2013, they're not sitting around going "wtf is a smartphone?!"
In short: Yes, they are currently in a bit of trouble that could get worse, but it's unlikely a company like Nintendo will fail to recognize this.