The reality is that the price was decided no less than 3 years ago.

No company just cuts R&D loose to build whatever. There is always price at the heart of the design (cost + profit). There are compromises that can nudge things north or south, but that stuff was already hashed out before even the Republican primaries.

And Nintendo's pricing strategy is less a symptom of the economy and more about Nintendo not having "games people" in charge. Furukawa's ascension to president basically sealed the deal. No games experience other than accounting.