The PS4 and Xbox One are also half-way through their life-cycle and moving on towards more cost effective units while also introducing higher priced models in the near future.
So, for $300 you either get an "old console" or a brand-new product that is 100% portable. I still think its reasonable. When was the last time Nintendo seemed to care about competing directly with PS4 and Xbox One the way those other two companies do?
Of course we still know very little about the console, but for right now the portability is enough to spark interest.

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