I don't think there's any chance of that whatsoever. It'll be cheaper than the PS3 was at launch IMO. The PS3's price was a mistake enough, and one I don't think they'll repeat again. I don't see a tablet controller happening, and that's what's driving up the price of the Wii U.
For me the most interesting factor is price.
Going by Sony's PS3 ludicrously expensive launch price, the Wii U's obscene RRP, the liklihood it'll have some form of expensive in-built gadgetry (I call a tablet controller!), and the current economic climate, then I suspect it's going to be pretty jaw-droppingly expensive.
I'm worried we might hit the new high of around Ł650-700.