Now that Sony has cut the price, and seemingly out of nowhere as I don't feel they needed to,...
The PlayStation 4 price cut is parity to the price cut in Japan. Also, the Xbox One has practically had a similar price cut since last year's holiday season. This PS4 price cut is Sony making efforts to keep their lead.
"Will they?" Of course not. Nintendo lives in their own delusional little world where no other competing companies exist.
Hey, it's unfair and mean to make assumptions on a company's mental fortitude! It is quite possible that the company is cognizant of market realities, even if they don't react in expected or desired ways! /joking :p
I find it kind of hard to believe that the Wii U costs so much to manufacture that they can't sell it at $249.99 or even $199.99 without taking a loss on it. Not that I know anything about what the components cost, but it just doesn't seem like anything in it should be that much. That screen can't be that much.
When the Wii U Pro Controller, Xbox One Controller, or PlayStation 4 Controller cost $50+ to maintain a certain level of quality and make a profit, I don't think it too much of a leap to imagine that the Wii U at $299 might be at cost or a slim profit.
Perhaps the resistive touch screen, plastic, radio, and other parts don't cost much on their own, but whatever logistics solution Nintendo has set up is setting the GamePad's cost at ~$80-100. Also, there's however much money Nintendo put in to research & development. Then there's the system itself which is probably not cheap to make.
As for the would/should question, what difference would it make at this point? Instead of finishing 2015 with 11-12 million Wii U systems sold, it would be 12-13 million? Maybe 14 million if Nintendo is lucky? It's nice that Ian Sane would get a system if the price was cut $50+, but Nintendo has to calculate how many Ian Sanes in the world are on that fence. I just don't think there's enough people to capitalize on a price cut.
It's just not going to happen this year.
But I can definitely see it happening next year along side a Zelda U bundle. Give the beleaguered system one loud, last gasp.