DVD quickly became cheaper or same price as VHS, at least in EU.
The problem is not the price of the BRD player, it's the price of the media.
I see only die hard HC and graphics whores buying these exclusively.
Most sane people won't buy the BluRay when it's at least 10 € higher in price, when it's not 20 € higher. That doesn't make sense just for more resolution, except for a gift.
As for myself, I have lots of DVD I haven't even opened yet, there's no way I'm buying 30 € BRD when the DVD is available at 10 €.