One industry analyst who spoke in the condition of anonymity said flat out the choice was wrong, for a number of reasons. "It's a sound that doesn't exist in Japanese, so Japanese people will struggle to pronounce it."
Acknowledging that Nintendo has had code names for their consoles before--Dolphin became the GameCube, for instance. But this time, the analyst said, "Nintendo let the code name gain a little too much currency: people were used to it, and it was widely accepted as the console's name."
"Now they have a stupid-sounding manufactured name that probably wouldn't have tested well with English speakers if they'd bothered doing any market research," the analyst said. "And they're going to try to use it to replace an evocative, well-accepted name that people have been using for well over a year. Bad, stupid move."