Nintendo's typical art style is cartoonish, which doesn't place very high requirements on the hardware. Zelda Wind Waker, which has been claimed to be native 1080P, does not run even close to 60fps, nor does it use a whole lot in the way of textures.
Wuu's main CPU is also very, very weak compared to even last generation of consoles (like 1/10th the flops of Cell or roughly on that order), the GPU is something akin to what you'll find in a budget laptop, and the system as a whole has very low main memory bandwidth (half of PS360 main RAM.) So it's not a powerful design by any stretch, even when eDRAM is taken into account.
I have heard statements like that for a long time, and while I agree that Wii U is no powerhouse by any stretch of the imagination, its obvious that alot of the criticism isnt founded in reality. How does a console that is supposedly completely gimped from memory bandwidth with a terrible CPU run Need for Speed MW better than either the PS3 or 360? Even Mass Effect 3 outperformed the PS3 version. Hard to believe a "port" not done by the original team could perform so well if the hardware is bottle necked severely from the memory bandwidth and the weak CPU. Memory bandwidth is obviously not a problem, even if people want to look at the 12.8GB/s from the main memory pool and chalk it up as gimped. Not a single developer ever once complained about the memory performance.
The CPU is obviously not very strong with floating point performance. The 360 and PS3 were definitely stronger with floating point performance. Obviously developers took advantage of what the Cell and Xenon were good at, and used them to assist the GPU with some graphics rendering. Asking the Espresso to handle that same workload would probably not work out to well. I think developers who leaned very heavily on the CPU's with the 360 and PS3 to render graphics will not find much advantage from the Wii U hardware. I think its safe to say that regardless of SPU counts, the developers have found the Wii U's GPU to be more powerful and certainly more modern than the ones powering the current generation consoles. Frozenbyte for example runs Trine 2 almost exclusively on the GPU, they do very little on the CPU, so for them it was pretty easy for them to identify the Wii U as being the stronger console for their game.
There was a member here that had made mention that they could never truly use all three cores on the Xenon because of the limited L2 cache, the Espresso on the other hand has tons of L2 cache, so I do think the developers will find multi threading on Wii U to be far more beneficial,and necessary to get the most out of the system. Developers have been able to optimize for the Cell and Xenon for so many years now that many of the inefficiencies of those CPU's has been masked by code structured to avoid those potential stalls. I would love to hear from a developer on the differences and weaknesses between Wii U and the current gen consoles. I say current gen since its pretty obvious that its closer to those consoles in terms of outright power than it is with the new PS4 and X1.