How is it possible that the X1 and PS4 are already basically the same price as a Wii U?

[bunchanumbers]

I bought a WWHD bundle. Cost me $250. That's it. Lets say I bought a PS4. Costs me $299. Then I also gotta buy PS+, which is another $50. And another $50 for the rest of its life. I don't think its the same price. I could own a Wii U for 4 years and it costs me $250. Or I could own a PS4 for 4 years and it costs me $500.