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I don't think it'll die
I think in the west it'll do quite well, with a possibility of doing better than 3DS, I swear.
And the price cut is confirmed by the hardware prospection. It'll happen soon.

But my point of view is clear, if Monster Hunter 4 is released exclusively for the 3DS then japan is lost, or at least it'll need a miracle there - like for example Soul Sacrifice becoming the next MH. It'll be PS2 vs Gamecube again, only this time 10x worse - the cube at this point sold a million and had SSBM, Resident Evil exclusivity, announcents for Mario, Zelda, etc, etc, for example. Vita needs more, way more than: "Hatsune Miku is going to help"