A price cut doesn't make sense. The lack of compelling software is killing the Wii U right now. The reason the price cut for the 3DS was so effective is that came along side top notch software. Nintendo did a poor job of hyping the Wii U and making the appeal of the Gamepad apparent. They system isn't selling on power and without making the Gamepad appealing you are stock with a bunch of so so multiplat ports.
If the situation Criterion mentions about the dev tools is true, then the reason for the so so multiplats is Nintendo themselves. This adds to their overall ineptitude with the Wii U launch. THey thought that no matter what they did the system would sell out for six months and they could roll out the big guns for 2013 Holiday/Orbis&Durango launch. They were badly mistaken.
