It seems like there is possibly room for a $199 price point (which you explained).
They should release a Vita bundled with a 4gb card for $199 and keep that price for 3 years. Phase out the 4gb card and make the 8gb $20, 16gb $40, and the 32gb $70.
And finally, most importantly, keep a steady stream of new releases.
P.S. Give early adopters a free SCE game on PSN
e=mc^2
Gaming on: PS4 Pro, Switch, SNES Mini, Wii U, PC (i5-7400, GTX 1060)