The specs don't matter. The gameplay and titles do. That's why the Wii wiped the floor with sales over Sony and Mcrisoft when it came out. It was woefully underpowered, and didn't have any HD capability yet far outstripped the technology leaders in sales, and even with the joke of a name. Why? Because they focused on gameplay.
This simply isn't true. The gameplay offered by most Wii games was utterly abysmal, and the real reason it succeeded was because it had a very marketable gimmick that appealed to non-gamers. People saw the tennis, bowling and golf games and instantly understood what the console offered.
After playing with the console for a short time people realised that there was no gameplay in most Wii games at all, and as such the console met with a quick death. While it was hugely successful for a few years, the sales dropped off very quickly as core gamers abandoned the platform and word spread amongst casual gamers that it really wasn't very good. While the Wii only lasted a few years, the PS3 and Xbox 360 lasted a good ten years.
Nintendo had to get a new console out fast due to the sales of the Wii collapsing, leading to multiple years of losses. Sadly, they once again focused on gimmicks with the Wii U and not on gameplay. This time the gimmick didn't appeal nearly as well to casual gamers and the Wii U was DOA. Ultimately, Nintendo stopped focusing on gameplay with the Gamecube. Now it's just a maker of novelty items that you quickly grow bored of.
As for specs not mattering, if you have the same game on two platforms and one has superior specs to the other, which version are you going to want?