Its still too stop-gap for Nintendo.
1GB dedicated game RAM might seem like a lot, until the other consoles are tossing around 4 or 6, and are capable of outputting at 4k or 8k.
Also, betting money that Bayonetta 2 is timed exclusive. No way they'd cut out a 130 million user install base unless Nintendo gave them enough money to fund the next 4 Bayonetta games and publish them themselves.
PAX East 2012/Anime Boston 2012