Nintendo's general policy of at least breaking even on the hardware may be the limiting factor. This is just my own speculation, but: We all know about the NAND memory shortage that restricted Nintendo last year. For them to up their order for FY2018 to those 20 million units, the odds are that they paid a higher price on such components to move up in priority. Even if they didn't, primary component prices don't seem to be dropping yet, which means Nintendo's profit per unit is likely unchanged at best.
And if Nintendo's still roughly keeping pace with Sony despite not having any AAA releases right now to counter all the PS4 heavy hitters coming out, then they don't really need to drop prices yet. Or, more importantly, if Nintendo is keeping pace with its own sales estimates.
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