Well this is a very strong definition of temporary. I mean technically nothing can stay on "heightened" levels when it comes to sales. Actually the argument you propose can be put towards the holiday season. And that because they start to go down after the holidays that the holiday sales weren't worth it.
The importance of a price cut is of course to reinvigorate not only sales but marketing and brand as well. I'd say Sony and Nintendo have both been very successful in doing that and MS was successful in doing it last year. Of course it won't last forever but it is still necessary to do. If companies knew they could do something that would allow it to sell at high paces forever... they'd do it. But for now, I'd say both price cuts have been received well and could potentially show some strength in the next 6-12 months too.
