You can't use the price as an excuse for bad sales only to go on to ignore it when Nintendo subsidizes hardware. Besides, the design of the 3DS is what drove up its production costs and makes Nintendo lose money now.
Also, Miyamoto is responsible for the games Nintendo makes, so he's to blame for that point as well. You know, with great power comes great responsibility
I think the high price was due purely because of hype http://www.vooks.net/story-19610-Iwata-says-3DS-priced-high-because-of-hype.html .
There is nothing state of the art about 3ds. Yes, it is a naturally progressed dsi with a parallax barrier slapped on the top screen. In fact the production cost is probably even less than the ds/dsi (at their launches) because its uses a lot of the same assets of the ds at the depreciated costs (same cheaper?-ass cameras, same touch screen, same form factor etc). They just put a parallax barrier to clever use.
They were losing money because of very strong yen + slow sales of both home and handheld consoles + R&D(All never happend before simulatously, R&D are probably highest ever for WIIU if its true they are going after 3rd parties). And they probably just made it sound like they were making a loss on 3ds after the cut. It would have sound kinda evil if they drop the price by that margin and still boast that they are still making a profit.
My 3ds friendcode: 5413-0232-9676 (G-cyber)