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To agree with what you are saying we have to first assume they aren't making a heavy profit selling as is right now. That if they dropped the price by just $1 from their $299 price point they would be selling at a loss.

You don't know that, we don't know that and I doubt anyone has said nintendo should sell at a loss.

What people have said though, is that they don't see why it costs $299. So in other words it should be cheaper.