Wii (2006) price adjusted with inflation = $294.00 w/one free game
Wii U price for the last year = $299.00 w/two free games
Yeah I don't think price is really the issue. Not to mention the PS4 is selling very well at $400.
With Wii they had lineups every time there was a restock and were willing to pay upwards of $400-$500 on eBay to get one. With Wii U ... well the poor numbers speak for themselves.
If people want something, like reeeally want they'll pay for it.