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C'mon man, Nintendo have survived much MUCH worse periods than this so I think predictions of their demise are a bit premature at this point in time.
I don't get it. When I first heard about the price cut my initial reaction was 'Thank god they came to their senses'...not 'My God...it's the end!'. I see it more as putting right what was wrong before any real damage is done. The price cut HAS made the 3ds more appealing in many people's eyes so how is that a negative?
(and I'm pretty excited about the ambassador program. It's better than nuffin and there's a few games in there I don't own anymore and wouldn't mind...fusion and yoshi's island to name but 2.).