There's a simple way to illustrate why companies don't really like to cut their hardware price any more.
Lets say cutting the Switch price by $50 would increase one year sales from 16 million to a much larger 20 million. And these are just hypothetical numbers, likely a price cut would not cause even this level of boost, but for the sake of this example lets say it does.
You may say "Wow! What a huge sales boost! Nintendo should totally do it!".
When you break this down though, lets also assume the profit margin on the Switch OLED is $90/unit for Nintendo at $350.
16 million systems (at $350 MSRP) x $90 profit per unit = $1,440,000,000 profit for Nintendo
20 million systems (at $299 MSRP) x $40 profit per unit (you're losing $50/unit here) = $800,000,000
The 16 million at $350 earns Nintendo almost *double* the amount of net profit. Basically put it this way ... to sell an extra 4 million units of hardware, you're losing yourself hundreds of millions of dollars effectively. Even if the Switch sold an unreal 30 million units as a price boost, 16 million sold at $350 still earns Nintendo more money than 30 million sold at $299 would. Think about how crazy that is.
You can understand now why companies don't tend to want to cut their hardware price if they don't absolutely have to. It can happen, but I don't think any of the three console manufacturers use it as a central tool for moving hardware any more.
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