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Price and value are two very different things. The Wii was priced incredibly high considering its hardware, but the perceived value was high.

This is where I think Switch has a big advantage over the Wii U. The Wii U's perceived value was low because a lot of people didn't know what it really what the value proposition was. What should have been the system's main selling point, assymetrical mutliplayer, was convoluted and hard to explain. The features of the gamepad were poorly utilized by Nintedo's key software titles, with few of them using it well.

At the very least, people will get the point of the switch, since they made that very clear. It's a much clearer value proposition, which makes the console instantly better off than the Wii U. Not enough there to say it will be a flat out success, but I'd be really surprised if it did worse than Wii U.