I'm a big fan of the N64, but will happily admit it was ill-conceived and has a shitty software library.
The N64 works as a casual, supplemental console. The TG16, SMS, and NES give me 90% of what I want -- I don't need any more RPGs, shooters, or run n' guns -- but they can't really execute the racing games and multiplayers of the arcade or the computer FPS and strategy games I loved in the mid Nineties. For those I play N64 and 3DO. Both are shitty systems, but for a 8-/16-bit gamer who lost interest in things around 1997, they fill a useful niche.
Also, the N64 may be blurry and have serious genre deficiencies, but it hasn't aged nearly as bad as the muted, grey, polygon shovelware barf on the Playstation. Seriously, PS1 sucks worse.