Nintendo have shown in their recent history that they're not averse to drastic actions to get themselves out if a pickle.
I don't think anyone's disputing this one, the problem is that whilst Microsoft can rely on their Operating Systems / Office divisions and Sony can rely on Financial Services, Nintendo sell games, and that's all they do.
If the 3DS isn't making them a profit, and the Wii U has to have the arse cut out of it to make sales then they're going to find themselves in a whole world of hurt real quick. They can live on their cash reserves for a while, but investors are going to turn on them in a heartbeat if they think that they don't have a viable long term plan for profitability... and it's at that point where things get really nasty.
Rambling aside... it's a mistake to assume they can flip open the 3DS playbook and apply the same tactics to the Wii U. Only games and effective marketing can get them out of this pickle. Gouging price cuts really could mean doom.
This post is sponsored by Apple and the iPhone 4S. Think different.