You completely misunderstand Nintendo and tech. The wii was all SSD storage, and Sony and Xbox are only getting around to that next year.
The Wii/WiiU used emmc NAND, which was dog slow... Which is why the Wii and WiiU interface was so slow and clunky, it wasn't using a fast SSD... In-fact it wouldn't surprise me if a fast mechanical hard drive was faster than the Wii and WiiU's storage. (I.E. Not the slow 5400rpm mechanical drives in our current consoles.)
Nothing in the Wii was old tech. However, the difference with Nintendo is they go after affordable mainstream tech in their designs, and only pick leading edge tech if it's affordable to produce and gives them a unique advantage. Where as Sony / Microsoft push to the leading edge more on the "specs". The wii might not of been bleeding edge, but it was by no means old tech even compared to the PS3 and 360, it just wasn't as spec heavy, and thus did not cost as much.
The CPU/GPU/Ram in the Wii was old technology, based upon the technology in the preceding console, the Gamecube.
And even the emmc NAND is old as it's been around since the 90's... emmc is cheap, nasty and good for cost-sensitive devices like a console.
The bulk of the Wii's innovation was sunk into the controllers, which... Despite being "done" before wasn't done in such a convenient package.
The Wii was an upclocked Game Cube with motion controls. It was the biggest money grab in Nintendo's home console history. It was in fact less powerful than 2001's Xbox. I considered the machine part of that PS3/360 Gen simply because it was released along side the PS3 in 2006, but the guts of the machine were out dated and it showed.
Nintendo also had motion control support for the Gamecube at some point too.
In fairness though, the Wii did have a few technical advantages over the OG Xbox, especially in the texturing department... Although the Xbox's mechanical hard drive would potentially have allowed for texture/mesh streaming to save on memory. (Which didn't become a standard thing until the mid 7th gen with Modern Warefare 2.)
And then you have the pixel shaders, something the Wii lacks. - Although technically with the TEV you can leverage it's functionality to theoretically perform the same effects but with a corresponding hit to performance as you needed multiple passes.
Price cuts this late in a system's life have minimal effect. The increase in sales, if any, are likely to be insufficient to justify less per-unit revenue. And it's not like the PS4 has atrocious sales. It's definitely post-peak and declining, but not to a degree so pressing that Sony needs to cut the price.
The flipside to that is there is a potential need to "lock" customers into their ecosystem, it's an easier task to ask people to migrate to a newer console if they already support all your subscription based services.
It should be interesting either way.