Which is a vast improvement indeed.
When the Wii U first released, there were criticisms all around. But one of the biggest and most practical of those complaints were the loading times. Long story short: They were long. Painfully long. Thankfully, updates were released that fixed them. Nintendo even released a nifty video comparing the loading times before and after the update to showcase the difference.
How much have the loading times improved compared to other systems? Well, a new video released showcased that the Wii U is able to keep piece with the PlayStation 3 in exiting a game and returning to the UI. In comparison, before the update the Wii U would take as much to return to the UI as it would take for the PS3 to exit and subsequently launch another game.
So yes, it’s a big improvement.
One wonders if Nintendo has any other improvements on the way for the Wii U. But more importantly, one wonders how Nintendo’s “next gen” console was allowed to ship with loading times that were longer than a current gen console.