Here's how I would do it :

End and remove TVii. It's slow and no one uses it - and I believe Europe/Australia can't even use it. Use the extra processing power in games.

Implement a ReadyBoost like feature for SD cards. If you're familiar with ReadyBoost on your PC, it basically gives some extra memory/swap space -- could help trim loading times.

Remove the geomagnetic sensor and sensor bar from the GamePad. There aren't any games/apps that use the geo sensor, not even Wii Street U. The sensor bar in the GamePad is supposed to sub in for the Wii Sensor Bar in Wii mode if you don't have one. Using an actual sensor bar is easier and makes more sense. 

I'd even think you could get away with removing rumble, and at least one of the 2 speakers 

Remove unneccessary accessories from Deluxe Set

-Sensor Bar (WiiU doesn't need it. It's only needed for plain Wii mode. Backwards compatibility shouldn't be such a big deal. People can either use their old sensor bar or buy one pretty inexpensively if they really badly want to use Wii mode)

-GamePad Cradle (If people really need it, they can buy it)

-HDMI cable (Many would rather choose their own one of these anyway)

All this probably gives good reason to shave off $50 the cost of the Wii U

Bottom line: Remove the features no one really uses or cares that much for

Does the Wii U have a geomagnetic sensor?

I agree that they can remove some of that useless stuff from the box, but they should keep the HDMI cable.

Hands down keep the hdmi and stereo in the pad. The rest can go without issue.

to be honest, i like all of the things you're suggesting they remove. a price cut is not a price cut if you just remove stuff. now that tactic makes sense when it's stuff no-one asked for ($100 bundled kinect), but not so much when you're actually watering down your product. microsoft did this with the xbone controller, and that's now battery operated. like, actual batteries. which is downright embarrassing in 2015.

also, the speakers on the gamepad are weak enough as it is... i don't see how removing one will do anyone any favors. a $50 price cut will happen this year regardless, with none of your recommendations. only one i'm for is removing tvii, tho i'm not even sure that frees up any resources for games (it's built into the os)...

the accessoires cost Nintendo probably a single dollar combined. Thats not the problem.
I can also buy a 10m HDMI cable for 3€  so Nintendo can get the 1.5m one (or is it 1m?) for probably 20 cents. (TBH its crap tho mine broke without even touching it.)

Remove the rumble!  Its like a crappy cellphone and I turned it off the first 5 minutes I had the gamepad. But even better would be to make the gamepad have GOOD rumble instead. (the pro controller also has shit rumble because it left side only.  Either make it center or have 2 rumbles) Good rumble is rumble you dont hear unless your controller is placed on a table.

I fail to see how you are making the Wii U more powerful with your suggestions?

If you going to rape the console physically the way you describe it it would need to be at least a $100 price cut.

The hdmi cable costs nintendo $0.28, removing it would not effect the end user price at all.

I think he was trying to refer to the gyro sensor for aiming with the Gamepad...

Of which I say leave it in, I've gotten enough "that's cool" responses from people standing up and looking around with the Gamepad and having the screen shift accordingly...

That's it?! Wow, thought it was like $5.