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It depends. If they launch a new 3DS next year (and I think it's more and more possible), then they can let the Switch die at this price like the Wii U and say things like "people didn't get the concept, that's too bad", and then launch a new console or focus entirely on the handheld.

If they don't launch any new handheld and focus almost their whole future on the Switch, then they will make a price cut after the first year because they won't be able to manage a really low level of sales. But the other consoles drop in price regularly too, so that will maybe be too late.