They haven't done it for a home console yet, but they have done it for handheld hardware before. They did it with the same methods they are currently employing for the Wii U. They released a heavy hitter title, and have a solid lineup. They probably won't have another pricecut after just starting the MK bundle, but the bundle might as well be a price cut with the extras they keep adding to sweeten the deal.
Anyone who thinks Xbone has a better chance of reversing its situation when it's locked in an uphill struggle against Sony, crippling any hardware gains from their multiplats. The Japanese market may be almost dead at the moment, but the Xbone is actually dead in Japan, and while it currently only offers a meager boost to console sales, it will likely become relevant when the big JRPGs start coming out.
The Wii U has no direct competition because it has no real multiplats to speak of and focuses on an entirely different set of game genres. No one can undermine the Wii U but Nintendo, while Sony is going out of its way to hurt Xbone's sales by marketing and trying to convert traditional exclusives to multiplats.
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