No. The smart thing for the Wii U to do is drop its price and preserve brand loyalty.
A price drop isn't going to be effective. Nintendo isn't going through a 3DS situation with the Wii U at this point.
The PS3 had a similar poor situation last gen where they lost shit loads of money on the first batch of PS3s and struggled to turn any profits. However, they preserved their brands reputation and expanded their fan base by dropping the consoles price, removing excess hardware not needed (PS2 emulator) and releasing some fantastic exclusives (TLOU, Uncharted).
The Last of Us and Uncharted 3 only came out late into the PS3's lifespan, you need to go back a few years from when those games happened to 2009 when Sony
rebranded the PS3 with the PS3 slim. From design to philosophy to the font in the PS3 logo. Sony was losing money on hardware sales and they needed to rebrand to make the PS3 slim appear as a new console. So even though they were still losing money, it was the beginning of turning tides for them.
Nintendo needs to rebrand the Wii U at a minimum to make it clear that they're committed to the brand and catering to the core players. An extremely effective way of doing that would be to bundle every Wii U with a Pro Controller. Something they should've done a long time ago. Keep the price point the same, but double the storage on the Deluxe model to 64GB and sell a 500GB HDD variant separately. If there has to be a redesign, I'm all for it. Maybe make bundles without the Wii U GamePad for cheaper. Nintendo should learn from Sony's success and that is to pay for exclusives. They need to make sure Platinum Games, Monolith Soft, etc. are pumping out games for the Wii U nonstop. And buy more studios / partner with more studios. Then Nintendo needs to make their current studios wake up and make games. I'd love to see a new Custom Robo for Wii U, but what has Noise been doing the past yeears?! The last Custom Robo came out in 2006/2007 for the DS. Finally, whatever is holding Nintendo back from releasing an avalanche of new games on Virtual Console should be a top priority for Nintendo to fix. It seems they haven't invested enough money in VC. They need to hit us hard across the face with N64, GameCube, GBA, and DS games left and right. And get on with a subscription system!!! "Nintendo Plus" with a free monthly game and exclusive discounts and early access to indie games and free VC titles? OH YES.
So much Nintendo could do.
But before they do anything, they must rebrand. I strongly stand by this point. If they don't rebrand like Sony did with PS3, Wii U will always be degraded to the kiddie console of the 7.5th gen with a big fat
please understand written all over it. No core player will take Nintendo seriously before Nintendo takes the core players seriously. They just have to rebrand.