No? The n64 was a graphics powerhouse, literally SGI tech in a cheap box you put in front of your TV. The gamecube too was very powerful, at least compared to the PS2. The GameBoy Advanced was a pretty powerful 32 bit ARM system.
It wasn't until the Wii that Nintendo gave up the tech arms race, because making games people want to play and marketing to the people who aren't turbo-nerds about half true specs turns out to be way more profitable.
It wasn't until the Wii that Nintendo gave up the tech arms race, because making games people want to play and marketing to the people who aren't turbo-nerds about half true specs turns out to be way more profitable.