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It's call capitalism. Price is whatever the market will bare. New people are buying Wii all the time, mainly casuals, and Mario Kart Wii is one of the 'must have' titles for them (or any Wii owner). Mario Kart Wii (and NSMB and a few others) still sell very well at full price so why should Nintendo drop the price?

When a game stops selling, Nintendo reduces the price as seen with Selects and drops in price on DKCR and Kirby:EY.

GT5 cater's more to core and core gamers tend to buy it at launch. Beyond that, discounts are needed to entice others to try it.