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Nintendo has completely screwed themselves.

While I agree WiiU is too expensive, a price cut will do nothing when there's still no reason to own one.

System selling games - Mario Kart U, Zelda HD, Mario 3D HD, Smash Bros are all a long ways off - holidays 2013 at best I'm guessing. Zelda probably 2014 or even 2015.

The cost of the gamepad is a ball and chain around the underpowered WiiU's neck. If it succeeded in attracting both casual and core as hoped it'd be one thing, but it's appeals to neither. It's cost is more of a detriment than it's selling appeal. But even if they patched WiiU & games to work with wiimote/nunchuk and sold it as a WiiHD for $200, (it'd sell better and be more profitable) there's still no reason to own one aside from NSMBU. Hell, it doesn't even upscale your current Wii games.

By the time big games come out, so will Orbis/Durango (most likely) and without a Wii Sports like hook, no one will want to buy what will amount to a last gen system at current gen prices - even with a price cut.

Really at this point I think Nintendo is screwed. They'll have carry the underperforming WiiU until they can launch another system, which probably wouldn't be until 2016. Mario/Zelda/Smash/Kart/etc should keep it afloat, if realatively unprofitable, until then.