Not just that but unlike PS3, it has an controller that would cost so much more to manufacture and aside from power there are other tech inside both console and handheld that would obviously be more advanced. Even if it had the exact same power graphics wise again the tech would be more advanced and efficient.Compared to when the PS3 launched at $500... Yeah, it's a lot.$299.99 is too much. I'd rather purchase a PS3 320GB bundle for the same price. I'm hoping for the $249.99 - $269.99 range.
$299 is actually quite a sweet deal for a next-gen console. You might claim that Wii U is weak, but we have absolutely no idea of the actual specs and most likely it'll be more powerful than anything now.
People expecting this to cost less than $299 are really deluding themselves, even at that price Nintendo could be selling it at a loss.