They need fresh blood, pure and simple. The company is pretty much held hostage by Iwata and Miyamoto and their whims. I don't care if you don't feel like making and F Zero or Star Fox, Shiggy, put every ounce of tech you've got into these games as showpieces for what the console can do. Buy more 2nd and 3rd party devs because every generation your 1st party titles simply preach to the already converted.
They just need fresh and exciting games, games, and more games, and to finally break out of their dusty and stagnating Japanese business mentality.