It hasn't helped but I don't think you can say everything is because of pricing.
I think it's unfair to discount the 2DS too. It is cheaper, and of course some corners are going to be cut. By the same token people still overwhelmingly chose the more expensive $199.99 3DS even over the $169.99 smaller 3DS.
And the same was true of the Wii U, no one really bought the cheaper $299.99 model (when the other SKU was $349.99).
Beyond that, it's not like the GameCube was a huge success at $99.99, even for half it's life cycle at that price it only got 22 million ... which is underwhelming.
The GBA sold great, but the GBA didn't have smartphones to deal with like the 3DS does, that's the core problem for the 3DS, not price. What exactly was the GBA's competetion? The Neo Geo Pocket?
Having said all that ... can you make a case for a $150 Nintendo console that could play Mario Kart, Splatoon, Smash, etc. doing better right now? Sure. It couldn't sell worse than the Wii U. I'm not sure it would be a huge success though.