Initial price point misshaps are hard to come back from. We have seen this with 3DS, Wii U, and even PS3 I believe.
It will take games to do the trick, not pricing.
The 3DS and PS3 pricecuts were both accompanied with significant software.
3DS had the cut in the Summer which was followed by Ocarina 3D and a Holiday hit of Mario 3D Land and Mario Kart 7.
PS3 had a pricecut and slim combo to go along with Uncharted 2, Modern Warfare 2, FFXIII in Japan, Assassin's Creed 2 and Batman Arkham Asylum.
Games can only do so much for a platform that is overpriced.