You make more sense than most in that respect - I have bought systems on the strength of one game and it hasn't always turned out to be a good idea.
Although, usually the situation is different. There is often a two horse race and someone is going to buy one system and the one that gets that big game first tips the scales. That applies even if those systems are released apart (like 360 vs PS3 or SNES vs Megadrive). In those cases, even though there are hardware differences, both can deliver similar quality games so that 'killer app' becomes all important.
In the case of the Gameboy, DS and now the Wii, Nintendo have put themselves in a position in which the main selling points of their system can't be replicated by the other systems. They're delivering something entirely unique. So the systems, features and promises of games to come can sell themselves. That killer app becomes far less important. It's not like just the prospect of playing Mario64 again sold the DS. The DS features sold the DS.
Those killer apps (Nintendogs for DS, Pokemon and others for GB) came later and just gave a huge boost to what was already a successful system.