Honestly a Wii really is an upclocked GC with a coprocessor stapled on the side handling new (and a lot of old) I/O.
For a chip made in 1999, they certainly got their mileage out of it.
You could even run GabeCube games on the Wii, and it didn't require Nintendo to ship almost an entire GameCube on the board like Sony did with PS2 emulation on the PS3.
Although reading this article I wonder how Nintendo handled the ARAM situation and the like on the Wii when playing GameCube games?
The hardware could choose to use the bottom 16MB of MEM3 as an ARAM equivalent. That was actually the source of one of the first attacks. That is putting tweezers on that RAM chip, shorting the address lines and accessing the high part if that RAM while in GameCube mode.