By making an ever evolving and expanding platform rather than a cyclical one that's cut short after ~5 years, Nintendo are in this for the long run.
It might not be really compelling on day one, but there will probably be enough so that Nintendo fans jump on board at the very least.
Then the rest is up to time as the platform evolves on a functional level, and as it builds a decent enough library of games. Perhaps when the "next gen" rolls around for Nintendo's competitors Nintendo will be in a much better place, maybe even to roll out upgraded hardware and they will have a sizable of software.
At some point it should become "good enough" for more and more people, though it depends on how long Nintendo can hold onto this position. It's not infeasible to think that perhaps Sony and Microsoft will adopt this sort of platform for the future, though to do so requires a clean break that they might not see worth the effort.
Nintendo is lucky in a way since 3DS and Wii U are both facing dead-ends in a year or so, so it can replace them both with a new platform. Sony couldn't with PS3 and Vita, so it can't build a new platform that tightly integrates with the PS4 -- it's simply too late for that.
Microsoft has done a half-way house with Windows 10 and Xbox One, but it's not really the same thing, especially for big games. Developers can't easily target PC and Xbox One with, say, Halo Wars 2 for example, and MS doesn't necessarily want to encourage developers to bring all of their content to both systems anyway (though you could argue they'd be happier with them publishing on MS's Store than Steam).
I guess NX's larger success in the long term also depends on how their new cloud-based membership system (co-managed by DeNA) plays out for them. As we know, the aim of the service is to act as a bridge between all of Nintendo's devices, and while I'm sure it'll work well in Japan I do wonder whether the masses here will be more encouraged to try out Nintendo's dedicated offerings. At the very least it will hugely raise awareness of them, I guess.
The other interesting thing is NX puts Nintendo in a good place to react to change, compared with rolling out a single, set-in-stone platform and having to commit to it for 5 or so years. You can almost see why Pachter is worried that the same thing will happen with consoles that happened to handhelds, that Microsoft and Sony being locked into this 5-10 year console lifecycle means they might not be able to react to a changing market in good time, if systems like Apple TV start changing the market underneath their noses as the years go by.
Nintendo couldn't really react to the handheld market's disruption until 2011, for example, and even then the platform they replaced DS with arguably wasn't best suited for the long term, since their way of thinking, when developing 3DS, would have been different.
(On a related note, I think this is what Nvidia is trying to do with their "Shield" platform, though I do question whether they have the chops to manage a platform, as it hasn't really gone anywhere in the last 2-3 years)