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Do people seriously think that the biggest problem of the Wii U is its price tag? The price of 300 $ is completely okay.
It's 3DS all over again. Nintendo gives 3rd party time to shine at launch, and Nintendo themselves only deliver New Mario U and Nintendoland, 3rd party (except Zombie U) failed to deliver, because of ports and multiplats.
Wii U doesn't shine with original content. It doesn't as of yet have exclusive games that are worth buying a whole new console for. That's the problem. 300$ itself is completely fine.
When March arrives with Monster Hunter, Pikmin and what not, everything will be fine and there won't be any talk about price cuts anymore.