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He`s kinda right. It would sellout at 300... probably during the first year. After that it could harm sales in the long term.
My guess is, he`s supposing it will be as successful as Wii, so at 300 Nintendo would benefit a lot before lowering the price, as it did with the Wii. Who knows...
At 250, it will sellout and keep the market interested in the product in the long term.