Your thread title has it right, but the proposal in the OP won't work.
I understand that you're looking at it from the perspective of quantified value and not costing Nintendo anything more, but Nintendo's classics are not going to make people run out and buy their new console.
There's no need to over-complicate things regarding the situation or for consumers. Nintendo simply needs to offer something that the market is going to respond to (Mario Kart 8) and they need to offer it for as close to "impulse buy" price as possible ($249). The same applies to a $249 Smash bundle this holiday.
Bundling MK8 at the current $299 price would be better than nothing, but at this point Nintendo needs a one-two punch, and an additional $50 price drop would do just that. Dropping the price further wouldn't be necessary for a long while. Their best bet is to move as many consoles as possible so that they can move as much software as possible to help with offsetting the losses they will undoubtedly face.
Nintendo have painted themselves into a corner with this console and they have to roll with the punches at this point if offering a SKU sans Gamepad isn't an option.
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