It would probably cost similar to the Wii U to produce but retail price wouldn't be that much lower because of mark up.

It'd be insanely cheap.

Only 3 docks.

Sorry I don't understand how much of what the OP described is gimmicky.

HD/4K/HDR = innovation but 3D = gimmick
4-point rumble in XOne/PS4 = innovation but HD Rumble = gimmick
DVD/Blu-Ray/4K Blu-Ray (and their accompanying licensing fees for video playback, which is something that has nothing to do with gaming) = innovation but cartridges = gimmick.

Also, since when is being able to take your games with you on a portable a gimmick?

Are people forgetting the controllers bundled with the Switch? Are controllers considered a gimmick now?

Shield is £190 for base 16GB version. Now shrink it down, add touch screen and the battery. That alone would add around £100 on the top of the price.  So technically speaking, the "gimmicks" come with virtually no cost. Also the 500GB "pro" version cost exactly the same as Switch.

It's never about how much the hardware costs to make its about how much people are willing to pay. The wii has nothing of value in it, in fact it was reported that the optical drive cost more to make than the motherboard no doubt because of the ability to take gamecube discs but that console sold close to that of the Xbox 360 which was cutting edge at the time. Iphones have huge margins for example. You have to factor in R&D costs and setting up production line's etc too. Most companies including Nintendo will price something at what the market will bear not lets say all of their costs plus a profit of 10% per unit. Some products are highly competitive with many manufacturer's making competing units, lets say laptops and in that market there probably is a slim margin for the manufacturer maybe even less than 10% per unit allowing for all their costs not just manufacturing but only Nintendo makes the Switch, so if you want one you have to buy it from Nintendo. The only real price competition is at retailers and they aren't going to do that if there is an under supply of product.

Awesome!! I will do just that and sell it at $199.99, no gimmicks and under $200 yo.

At the end of the day it is only money. If you want to play the exclusive games released on a system price is no object.

Then it would just be a Wii U without the gamepad so $200?