History has shown that there will be a very minor spike in sales for a very brief period of time. Then sales will go back to being very near where they were before. Nintendo 1st party games that show up with every generation (Mario Kart/Party, Zelda, etc.) have never made their system sell huge afterward. Look at Gamecube. It's the variety and original titles that sell systems, and Wii U suffers in both of those areas.
There will be no meaningful boost in sales long term from this price cut.