Because Wii U is not competing with with PS4 and XBOne this year.  PS4 and XBOne will launch this fall at prices of $400 and $500 respectively.  They will be in somewhat limited or perhaps very limited supplies.  Like the Wii U last Christmas, virtually every PS4 and XB1 that arrives in stores will be snapped up before the season ends. Pretty much everyone that buys one this year will be a fan, someone who is anticipating the system for months or years, and the bulk of customers probably pre-ordered it.  As such, none of these potential buyers would walk into a store and say "hey, there's a WiiU Deluxe for $299...that's cheaper, I'll buy that instead."

All of the potential Wii U customers are buyers that want a Wii U for what it offers.  Some may be put off by the price, but these people won't be picking up a PS4 or XB1 instead.  They may hold off on a purchase, or buy a PS360 - but those potential customers are dwindling with market saturation and fading appeal of old product.  Some may get a 3DS.  Since there will be so few PS4's and XB1's in the world, they won't be competing in the mainstream market until 2014.  Wii U has this sector to itself (among new home systems) for the time being.

Reducing the price of Wii U will most likely just cut into Nintendo revenue.  A loss of $50 per system is a lot of money.  If conservatively 5 million Wii U's are sold through the end of the year, that's $250 million in lost revenue.  A price cut would have to generate many, many more sales to make up the difference, and I don't think this is likely.

So I think we'll see a price cut for Wii U in 2014, once PS4's and XB1's become readily available on store shelves.  When non-partisan customers are wandering Best Buy thinking about options, the $299 Deluxe could be a selling point.  Right now it doesn't matter, especially with XB1 sitting at $500.  A $299(or less) Deluxe Wii U could hit along side MarioKart 8 in spring 2014 as system makers really begin to push for the every day buyer.

The only way we see a price drop for Wii U this year is if sales really, really stagnate in the second half despite new software launches.  If it really seems the public is rejecting Wii U, a desperation price drop could be done to get the product out there.

Well yeah, that how the Wii became successful because it was different.

Actually, you could argue that it did work for 3DS as it helped to kill Vita momentum, but the handheld and console markets are very different.

You're right, a handful of good games aren't going to change much about that. But then, that's not what we're getting. We're getting a handful of Nintendo games, and most of their biggest-selling franchises to boot.

Do you remember what it was that started the DS selling well? Do you remember what it was that started the 3DS selling well? What makes you think that the Wii U would be any different?

Wii U will not get a price cut this year. Does anyone want to bet?

Hard to say for sure.  Wanning interest in PS360 may also impact things, and so could improved promotion.  One challenge is the biggest game, 3D World, won't be out till December.

What makes you think that $50 more than the Wii is so much that it takes the system from "enough to create a phenomenon" to "not going to sell well, even with great games"? It's not like we're talking PS3-launch level prices.

I think we could see better value bundles but at thr same price, meaning Deluxe goes down to $299 and release bundles at $349. Some possible bundles being

Deluxe w/NSMBU+Wiimote-$349

Deluxe w/Wii Fit+Balance Board-$349

Deluxe w/COD+Pro Controller-$349

So a true price cut isnt really necessary since there will be plenty of holiday deals/bundles.

lol. Also, the reason I bought a 3DS was because of the price drop and more games.

Wii U Basic is $300. Wii was $250. That's a $50 difference.

Indeed, in Australia, the Wii was $400, the Wii U Basic is $350. And the Wii was selling far better. Games decide sales, not price. If the games are high enough quality, people will pay the price.