Ultimately Nintendo will have to match or just slightly surpass the current consoles, and make sure a new one hits the market at the same time or just slightly after the other two.
The more important Things however will be what the console IS, they need to make the archetecture relatively similar to that we see in the PC or console twins, for easy porting. 3rd party will jump on just about anything which does not require a ton of Work.
So having that alone will make a console with the 3rd party games (the majority that any gamer play anyways) and Nintendos exclusives, which are vastly superior to the other two.
It is not that simple ofcourse, Nintendo has some of the worst relations with the rest of the industry, that needs to be fixed before all else.
Ideally Nintendo would aim for a console with a 5 year lifespan (I am guessing that the x1 and PS4 will last around 7 years, mostly based on sales, it is the consumers that make that prediction come true, if it happens). Which would settile for 1080p and 60 fps in all games, including 3rd party games. Fix the bad relations meaning that most 3rd party will have an easy time, and Little loss in the porting Work. So to me it would not have to be incredibly powerful, especially since hardware evolves so fast that the most powerful this year will be hopelessly outdated next year. A fools arrend.
Controlwise? While I like the way Nintendo plays with controls, they should atleast have a base line before they try anything else, they will need a standard controller (they can put R&D into an aditional controller if they want). But the uniform hardware needed for 3rd party also extends to some basic controller inputs, meaning that they need a typical controller (Not saying much since my Wii U came with a pro controller, and so did many others).
Now the above is what is needed, what would make it crush the other two would be further evolution of the above.
If we say that Nintendo will require 2 controllers base, in the package from the offset, it would already have some advantage, but if that other controller was its own handheld from the getgo, it could make Nintendo in a position where it could crush opposition fairly easily.
Basicly have the second controller, Work not as the wii U gamepad, but have its own internal Graphics and processing unit/storage/ram. So it would Work on its own as a handheld, but use the same ecosystem of the actual console (crossbuy, crossplay). It would lessen the workload of the typical Dev somewhat. It would require that that hybrid, would use something internally that would be rather powerful. and it would still require easy porting. It would also be rather expensive.
So if they did the above, I would be on, even at a pricetag of 600$ (Ironically a Wii U + a 3ds would land you in the area of 500$ at current pricetag, so this could not be impossible).
Added bonus ofcourse, if the handheld part of the console, could also be bought stand alone, since it is in its own right a dedicated handheld.
If they do the above, Nintendo might do abnormally well on the next console, but it would require consumers to cought up atleast 500$ likely closer to 600.
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