Yeah, there's nothing wrong with waiting for prices to drop. I mean, the stores and publishers would rather you paid more money, but as consumers we have a right to watch out for the health of our own wallets, thank you very much. And besides, we don't want to go down the path that leads to $60 games, and even price INFLATION on PC versions of said games. ECH. I mean, I was willing to pay $60 for N64 games, but thank god those days are over.
As for Nintendo not dropping prices, it's admirable, but they also have some special things working in their favor. Nintendo makes games that appeal not just to early adopters, but gamers who discover the game months or even years after its release. They've got a long, slow burn of sales where it benefits them and stores to keep the price up. But if you're a hardcore game appealing only to a select hardcore niche, your customer base usually viciously forgets about your game a month later, or beats the game real quick and resells it into the used game market for other hardcore gamers who want only a one-night stand instead of a long relationship.
Of course, it's also good that Nintendo and even some third parties are now willing to price at more meaningful levels given the game's content and experience, like $40 or even $30. Price drops aren't as drastic or likely when you price sensibly for the product and when you've got less of a distance to fall in the first place.