I think Sega could make a turnaround if the American side took the company back over - or at least seperate themselves from the Japanese side of the company. It seems that all the mistakes that have been made, in recent years, were made by Sega of Japan.
And then the American side of Sega sat back, and took it sraight up the ass. Sega of Europe or America had absolutely no control over anything, and they just let Japan run them into the ground.
EDIT - And the only Sega game I see coming down the road, that I'd even be remotely interested in would be the new version of Alien Syndrome coming out for the Wii.